ENERGY: East Mediterranean Gas Forum brings Cyprus closer to its goal

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Cypriot Energy Minister George Lakkotrypis said a decision to set up the ‘East Mediterranean Gas Forum’ was of enormous importance to Cyprus.


Cyprus, Greece, Egypt, Italy, Israel, Jordan and Palestine participated in the ‘East Mediterranean Gas Forum’ based in Egypt and its objective is the optimal joint exploitation of hydrocarbon resources in the East Med.

Lakkotrypis told the CNA that the “East Mediterranean Gas Forum” is of “great importance” given its participating countries, pointing out that this new international organization “sends a message to big hydrocarbon companies to operate and to attract multi-billion investments that are necessary for this industry to work in the region”.

He said the agreement brings Cyprus closer to its goal, which is the optimal and safe exploitation of its hydrocarbon resources.

“It’s a platform for dialogue, possibly for planning the infrastructure needed in the region to render the Eastern Mediterranean more competitive in the global energy sector,” he noted.

 The decision to set up the forum, said Lakkotrypis, was of great importance for Cyprus due to the leading role it has assumed in bilateral, trilateral, quadrilateral and multilateral schemes, in order to make this cooperation more feasible.

“This agreement brings us even closer to our goal, which is the optimal and safe exploitation of our country’s hydrocarbon resources. For this reason, alliances in our region are necessary for us to be able to continue exercising our sovereign rights unobstructed,” the Minister said.

 Each country will examine a draft charter prepared by Egypt, to govern the work of the organisation and meet again in several months.