Russia’s Deputy Minister of Energy Yury Sentyurin will be visiting Cyprus next week for the Russia-Cyprus Business and Investment Forum to take place Friday 10th in the coastal town of Limassol.
Sentyurin will be moderating a panel discussion entitled “Business Opportunities”.
Speaking to the press on Thursday, Fedias Pilides, President of the Cyprus Chamber of Commerce and Industry (CCCI) which is co-organizing the event, noted the importance of Sentyurin’s visit to Cyprus, adding that “energy issues as well as other matters are of high interest for the Russians”.
Asked whether Russian companies have expressed interest for the second licensing round for the 12 remaining blocks in Cyprus’ Exclusive Economic Zone, Pilides said that some companies have shown interest, stressing that “the fact that the Deputy Minister is coming, is an indication that the possibility (for the second licensing round) is being explored”.
On December 12 Houston –based Noble Energy announced that the results from drilling in block 12, formation logs and initial evaluation work ''indicate an estimated gross resource range(1) of 5 to 8 trillion cubic feet (Tcf), with a gross mean of 7 Tcf.'''
Cyprus is preparing to launch a second licensing round for the 12 remaining blocks of its Exclusive Economic Zone.
CCCI’s President said that the upcoming Forum is extremely important for Cyprus’ economy and will boost the business and investment in our country.
He also underlined the firm relations between the two countries in economic and political level.
According to Pilides, there have been more than 200 participations so far from banking institutions, businesses, investment firms and trade chambers from both countries.
The President of the Republic Demetris Christofias and Russia’s Ambassador in Nicosia will address the Forum. The Minister of Finance Kikis Kazamias will also deliver a speech.
The Forum is co organized by CCCI , the Chamber of Commerce and Industry of the Russian Federation , Cyprus-Russian Business Association and the Business Council for Cooperation with Cyprus, based in Moscow.
