Cyprus to consider all facts before deciding on natural gas

Cyprus' final decision on the natural gas will take into consideration all developments in the region as well as the possible natural gas reserves in the island's territorial waters, Minister of Commerce, Industry and Tourism Antonis Paschalides said on Tuesday.

Paschalides chaired a meeting with representatives of the Natural Gas Public Company (DEFA), the leadership of Cyprus Electricity Authority, the Cyprus Energy Regulating Authority, the Ministry's Energy Service and the Ministry's Permanent Secretary to review the latest developments on the issue.

Cyprus is very close to announcing its strategic supplier of natural gas to be used as the main means of power generation. According to the current planning, Natural Gas will be imported in the form of Liquefied Natural Gas (LNG) stored and de-liquefied in the terminal in Vasiliko at southern coast of Cyprus.

In statements after the meeting, Paschalides said he requested reports from all services involved which the government will take into account before taking its final decision.

''The decision to be taken will take into account all possible developments in the region and of course our (natural gas) reserves,'' Paschalides said.

Responding to questions, Paschalides clarified that the current process does not rule out a possible cooperation with Israel or the incorporation of the natural gas reserves believed to exist in Cyprus' Exclusive Economic Zone (EEZ).

Replying to a question concerning a letter by Israel's Delek Group, Paschalides said that the Group has sent a letter addressed to the President of the Republic Demetris Christofias, in which Delek expressed interest to cooperate with Cyprus on the issue of natural gas.

He added that the President did not yet reply to the letter.