Cyprus and Egypt have refused to reveal details of negotiations on the issue of Cyprus importing natural gas from Egypt, citing an agreement to keep the details confidential.
Cyprus wants to import one billion cubic meters (35.3 billion cubic feet) of LNG a year from 2013, rising to 1.7 billion cubic meters a year after 10 years, Solon Kassinis, director of the Cypriot energy department, said in an interview with Bloomberg.
“We hope to sign the heads of agreement by the end of the year,” Kassinis told Bloomberg’s Maher Chmaytelli while on his way to Cairo for another session of talks with Egyptian Natural Gas Holding Co. “Another possibility for Cyprus is to import gas from Algeria.”
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Ways to further develop commercial exchanges and transactions between Cyprus and Egypt as well as the prospects for joint tourist packages and cooperation in the field of energy were examined during a meeting Commerce, Industry and Tourism Minister Antonis Paschalides held in Cairo with Egyptian ministers.
Following his meeting with Fahmy, Paschalides said they exchanged views on energy issues and signed an agreement providing for the training of Cypriot officers by their Egyptian counterparts in the field of oil extraction and natural gas exploitation as well as in the field of renewable sources of energy. The agreement was signed on behalf of the ministry by Energy Department Director Solon Kasinis.
Paschalides avoided making any statements on the issue of natural gas, citing an agreement of confidentiality. He merely said the Cypriot delegation briefed the Egyptian officials on the progress of the procedure of importing natural gas as well as the decisions which the Cypriot government has taken, adding that soon final decisions will be announced.
Paschalides also met with Egyptian Ministers of Foreign Trade and Industry Rachid Mohamed Rachid, Minister of Petroleum Amin Sameh Samir Fahmy and Minister of Tourism Mohammed Zoheir Garana.
Speaking to reporters after his meetings, he said that with Rachid they studied ways to further develop measures to promote commerce and commercial relations. “We believe there are good prospects to develop and enhance these relations”, the Minister remarked.
He also said they agreed that a delegation of Egyptian business people will visit Cyprus to attend a seminar where they will present their services and products in an effort to use Cyprus as a bridge for Europe.
Paschalides said that he and Garana examined the possibility of offering joint tourist packages which will be geared towards tourists from far away destinations and these tourists will be presented with packages that will combine visiting two or three countries.
He said that although Cyprus and Egypt are competitive in this field, their close proximity could act as a positive element for both countries to benefit from.
The two Ministers also examined issues arising from the international economic crisis and measures they are taking to deal with the situation.
