CYPRUS AIMS TO PRODUCE AND EXPORT NATURAL GAS BY 2028, SAYS MINISTER OF ENERGY - WHAT THE WAR IN IRAN HAS CHANGED - Filenews 14/3
Cyprus could start producing gas for export as early as 2028, Energy Minister Michael Damianos told Reuters. Cypriot natural gas, he explained, will be exported to Europe through Egypt.
Tensions in the Middle East highlight the need for the EU to focus on exploiting the natural gas reserves of the Eastern Mediterranean, the Minister of Energy said.
This will potentially strengthen Europe's effort to diversify its energy sources, as the conflict in the Middle East is more focused on supply.
The turmoil in the Gulf has raised concerns about energy transits through bottlenecks such as the Strait of Hormuz, a corridor for about a fifth of global oil trade, which has been nearly halted since the U.S. and Israeli attacks on Iran on Feb. 28.
