ECONOMY

Athens, Nicosia, Tel Aviv promote energy cooperation

The governments of Greece, Cyprus and Israel will begin discussions in September about the exporting of natural gas quantities to western European countries, Cypriot Commerce and Industry Minister Neoklis Sylikiotis announced on Thursday in Nicosia.

The Cypriot official told state RIK television that he has received a positive response to his invitation to his Greek and Israeli counterparts for a meeting next month.

Sylikiotis also said the meeting will also discuss the formation of a working group to examine the creation of common infrastructures for the electricity interconnection of the three countries of the eastern Mediterranean.

Nicosia is already expecting revenues of some 300 million euros next year from the signing of contracts with the consortiums to be chosen for the new surveys for hydrocarbons in the Exclusive Economic Zone of Cyprus.

“This revenue will be sending a positive message about Cypriot economy,» said Sylikiotis.