CCCI: The government is right to prioritise domestic use of natural gas

15:28 - 30 May 2023

Current Affairs

The government’s priority is to bring natural gas to Cyprus immediately for cheap electricity production, and the Cyprus Chamber of Commerce and Industry (CCCI) fully agrees with this, its president Christodoulos Angastiniotis has said.

He was talking after a meeting between a CCCI delegation and President Nikos Christodoulides, which was also attended by Finance Minister Makis Keravnos, at the Presidential Palace.

Responding to reporters, Angastiniotis said that the government’s plan to prioritise using part of the Cypriot natural gas deposits for domestic use was the right decision. “The deposits that we have are much larger than what Cyprus needs and so we will not disappoint our partners, Israel, Egypt etc.” he said.

Cyprus’ current needs, he added, are no higher than 20-22% of its deposits. “First we need to bring the natural gas to Cyprus for electricity production and then, or simultaneously, carry out the work needed for its marketability,” said Angastiniotis, adding that the cost of electricity for both households and businesses was “unacceptably unbearable”.

The two sides also discussed a number of issues concerning CCCI, the economy and national issue. Regarding the latter, Angastiniotis said that “we are fully aligned with the government” when it comes to issues like cooperating with the Turkish Cypriots, the Green Line, the President’s meetings with Colin Stewart, the Special Representative of the Secretary-General (SRSG) in Cyprus and Head of UNFICYP as well as CCCI’s participation in the bicommunal committee on the

CCCI: The government is right to prioritise domestic use of natural gas

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