Tsakos Energy Announces Public Offering of 10M Shares

Tsakos Energy Navigation Limited

, a leading provider of international seaborne crude oil and petroleum product transportation services, announced today that it plans to offer 10,000,000 of its common shares in a public offering. Entities affiliated with the Tsakos Foundation, which is the Company's largest shareholder, have indicated their intention to purchase approximately 10% of the common shares sold in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,500,000 additional common shares.