Cyprus

GAS: EIB to look into LNG terminal when project on the table

by fm

19th September 2014

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1 min read

European Investment Bank President Werner Hoyer has said that the EIB will look into investing in an LNG project once a project is on the table.

Replying to a question on reports that the EIB will be funding an LNG terminal on the island, Hoyer said that “I never heard about it”.

“We are here for the signature of big investment in SMEs that is the key for growth and employment in Cyprus like many other countries in the EU”, he added.

“We are aware that the exploration in the gas fields is under way” he said, adding however that “there are no results”.

Hoyer expressed the hope that “there will be positive results”.

“If that translates into an investment project presented to us we will check it and discuss it but there is no commitment whatsoever until there is a project on the table”. This, he said, “is not the case yet”.