Important decisions concerning the development and production of Cypriot natural gas, as well as issues related to internal governance, are anticipated to be taken by the Cabinet today, Tuesday, 19 May, as stated by the President of the Republic Nikos Christodoulides at the start of the session at the Presidential Palace.
Addressing the members of the Cabinet, the President of the Republic said that "today we will make two very important decisions. The first concerns our country's energy plans."
He recalled that the first discovery in the EEZ of the Republic of Cyprus was in 2011 and 15 years later, "today we are taking, I believe, the most important decision regarding the current stage of natural gas exploitation." Today, as Christodoulides said, the development and production plan for the Cronos field is being approved, as well as the agreements regarding the basic terms of the sale of Cypriot natural gas. "This is the most important development in the exploitation of our country's energy resources," he emphasised.
"The goal is to sell the first Cypriot natural gas to Europe through Egypt in 2028. Today we are approving all the relevant agreements," the President of the Republic pointed out.
Regarding energy, he added, there will be further announcements very soon, in collaboration with Exxon, we are in advanced consultations and very soon we will be in a position to announce the next steps specifically.
(Source: InBusinessNews)
