Filenews 14 April 2023 - by Chrysanthos Manoli
Yesterday's statement by an ENI official about the company's intention to accelerate the processes for the exploitation of its gas reserves in the Cypriot EEZ but also for seeking cooperation with other companies for liquefaction and sale of Cypriot gas in European markets came in line with the planning of the Ministry of Energy in the same direction.
The ministry is working feverishly on the preparation of a new – multi-page – energy policy plan, focusing on the exploitation of natural gas from Aphrodite or other deposits in the Cypriot EEZ for the needs of electricity production but also for the supply of a small onshore or floating liquefaction terminal, so that the overall investments are considered advantageous for the companies as well. The new policy also includes seeking partnerships with other companies operating in the region or expressing interest in getting involved, in order to assist with gas the Cypriot electricity generation and the liquefaction terminal, if its construction is deemed feasible. One of them is of course the Greek Energean, but it is not the only one, as Energy Minister George Papanastasiou has already stated.
The ministry is also working towards the preparation of a broad meeting in Cyprus of delegations of companies that have interests in the EEZ and the wider region and may want to cooperate with the Republic of Cyprus for LNG exports. The initial intention is to hold the meeting in May, but the achievement of the target will depend on the procedures and the willingness of the companies. Some of them are aware of the adaptation of the Government's policy to the new data around natural gas and especially of its decision to exhaust all possibilities to use natural gas in Cypriot power stations, as the use of LNG has become a very expensive solution that will not serve the goal of reducing the cost of electricity.
