Nicosia resolute on gas plans
Cyprus’ minister of energy, George Papanastasiou, has affirmed Nicosia’s commitment to proceed with its plans for transporting natural gas from the region, both for domestic electricity generation and for liquefied natural gas (LNG) exports, despite geopolitical reactions.
During a conference that was organized last week by trade union SIDIKEK PEO at the Electricity Authority of Cyprus, Papanastasiou emphasized the need for reduced electricity bills. He stated that this objective could be achieved by introducing natural gas through a pipeline from the region, as opposed to relying on LNG, whose prices have soared due to the conflict in Ukraine and the resulting sanctions imposed on Russia.
The new government has revised its policy to include the import of natural gas from Israeli gas fields and from gas reserves in the Cypriot exclusive economic zone (EEZ). This gas will be utilized for both electricity generation and liquefaction, with the intention of exporting it to European and other markets.
On Monday, May 29, Cyprus will host a workshop to discuss this proposal with energy companies operating in the Cypriot EEZ, as well as upstream and downstream sector companies.
