ECONOMY

Cyprus ratifies EastMed pipeline bill

cyprus-ratifies-eastmed-pipeline-bill

Cyprus’ cabinet ratified a bill on Thursday on the EastMed gas pipeline project, the country’s Energy Minister George Lakkotrypis said in a statement. 

Speaking after the meeting, Lakkotrypis said this project “has a chance to materialize.”

Asked whether the coronavirus pandemic has affected the prospects for cooperation between the countries involved, he responded that those involved in such big projects plan for years ahead.

The necessary studies are currently under way and soon the consortium will proceed with its effort to find buyers for the natural gas, he added.

The bill will now be sent to the House of Representatives for approval.