The United States expressed support for Republic of Cyprus' plans regarding hydrocarbon extraction, energy interconnections, including the Great Sea Interconnector (GSI), and energy security in the region during Minister of Energy, Commerce and Industry, Michael Damianos' recent visit to the country.
Speaking to the Cyprus News Agency (CNA), Damianos said that it had been a week full of contacts, with his participation in the Eastern Mediterranean Gas Forum and the Atlantic Council, where international and East Med energy issues were discussed.
According to the Minister, important meetings were held with US government officials and officials from the Eastern Mediterranean region, including Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi. In addition, he said that contacts were carried out with oil and gas companies at a very high level. He also noted that in Washington he met with White House's advisor on energy matters, Jarrod Agen.
Subsequently, within the framework of the 3+1 partnership (Cyprus, Greece, Israel, and the United States) in Houston, Texas, Damianos also held a bilateral meeting with the US Secretary of Energy, Chris Wright.
“It was reaffirmed that the energy plans of the Republic of Cyprus are being pursued within a framework of cooperation, understanding, and support from our partners in the region—Israel and Greece—as well as with the support of the United States,” he told CNA.
Intention for broader cooperation
As he emphasised, the US Secretary expressed an intention for broader cooperation with the United States, which would continue to strengthen over the years.
The Minister explained that “US support concerns hydrocarbon extraction, since American companies are active in the region, but also the broader energy plans, including energy interconnections.”
“We discussed hydrocarbon extraction and electricity interconnections—there is therefore support from the US side, including for the GSI, which also constitutes a starting point for IMEC. We also discussed issues of regional energy security, with the significant US presence supporting Cyprus-Greece-Israel relations regarding stability in the region,” he said.
The Minister stressed that, given the US assurances of support in these areas, Cyprus should move forward immediately with its energy plans.
Importance of the East Med Energy Center
Regarding the East Med Energy Center (EMEC), the Minister noted that it is very important “because it demonstrates cooperation among the four countries in matters of expertise and training related to hydrocarbons. Cyprus relies on the support of the broader energy stakeholders,” he said, noting that Rice University in Houston “is a pioneer in energy-related matters.”
Responding to criticism concerning concessions allegedly made with regard to hydrocarbon exploitation companies in the Cyprus EEZ, the Minister said that “we are moving forward with the companies more directly.” Regarding the financial aspect, he stated that the Republic of Cyprus “will not invest a single cent; it will simply receive its share of the proceeds from extraction.”
He also pointed out that there is currently no revenue at all from natural gas. “We must proceed with extraction within reasonable parameters and for the benefit of the Republic of Cyprus, taking all factors into account. We have the US support and we must move forward,” he said.
(Source: CNA)
