Agreement for the liquefaction terminal of natural gas is expected to be completed December 2013, Energy Minister George Lakkotrypis has said.
In an interview with the London Greek Radio (LGR), Lakkotrypis said that the MoU signed recently between the Cyprus Republic and the companies Noble, Delek and Avner, forms the framework for the negotiations between the parties as regard the LNG terminal and which are expected to be concluded end of 2013.
He pointed out that the agreement is a small but very significant step towards the bigger goal which is for Cyprus to become an energy hub.
Invited to comment on Turkey’s threats against the Cyprus government in relation to the exploitation of the natural gas reserves in its exclusive economic zone, the Minister said that Ankara must realize that it is in its own benefit to promote stability and peace in the Eastern Mediterranean region.
Regarding Turkey’s relations with Israel and how these affect Cypro-Israeli ties, Lakkotrypis pointed out bilateral relations with Israel are based on long-lasting friendship and they are developed regardless of Turkey’s moves.
He also said that Cyprus promotes its cooperation with its neighboring countries and the number one priority right now is the exploitation of its reserves in its EEZ.
A Memorandum of Understanding (MoU) for the Cyprus LNG terminal was signed June 26, in Nicosia, between the Republic of Cyprus and Noble Energy, Delek Drilling and Avner Oil Exploration.
The LNG plant is intended to be capable of being expanded, to accommodate additional natural gas discovered in the Cyprus EEZ, either from block 12 or other blocks which have been licensed to date (blocks 2, 3, 9, 10 and 11) or may be licensed in the future, as well as natural gas from neighboring countries.
This MoU is the first in a series of agreements that will be required for the implementation of the Cyprus LNG Project.
In his interview with LGR, the Minister also spoke of the tourist sector in Cyprus and future potential. He said that although much is said about Cyprus’ natural gas reserves and the prospects of the economy, tourism remains the economy’s backbone for the years to come.
He said that there was a decrease in arrivals in March and April and that the overall arrivals for the period January-May recorded a decrease of 7%, however he pointed that the government has come up with a strategic plan to reverse the situation.
Lakkotrypis said that there is an anticipation for an increase in the arrivals and bookings for the summer season and that Cyprus is also expected to receive 70,000 more tourists during the winter.
