Cyprus and Greece coordinate actions in energy issues

The governments of Cyprus and Greece coordinate their efforts in energy issues and in this framework the Energy Ministers of the two countries met Tuesday in Athens to discuss their next steps.

Cyprus Energy Minister George Lakkotrypis met with his Greek counterpart Evaggelos Livieratos and according to a statement issued by the Greek Ministry, the two men discussed in depth all the recent developments in the region. Livieratos briefed the Cypriot Minister as regards the procedures to be followed for the exploitation of Greece’s reserves.
The Cypriot Minister from his part briefed his interlocutor on the initiatives taken by the Government regarding the exploitation of natural gas reserves in Cyprus’ Exclusive Economic Zone.

He also informed him about the meetings he recently had in the region, which focused on energy issues.
Lakkotrypis also met with the Deputy Minister for Energy Makis Papageorghiou with whom he discussed the cooperation between Cyprus, Greece and Israel regarding energy infrastructure matters.

The Greek Deputy Minister, according to a press release, referred to the excellent cooperation between Greece and Cyprus, noting that the bilateral contacts can assist in promoting the two countries and their role in the Eastern Mediterranean region.
Exploratory drilling conducted by Noble Energy in Block 12 of Cyprus’ EEZ has revealed a gross natural gas reserve from 3 to 9 trillion cubic feet (tcf) with a 60% probability of geologic success.

Noble is expected to extract and transfer to Cyprus natural gas by late 2018.
Contracts were signed with the ENI/KOGAS consortium in blocks 2, 3 and 9 within Cyprus’ EEZ and Total for blocks 10 and 11 in the context of the 2nd licensing round.