EastMed intergovernmental agreement expected to be signed at Q1 2019, Greek Minister says

Greece’s Minister of Environment and Energy George Stathakis has said that Greece, Italy, Cyprus and Israel are drafting an intergovernmental agreement on the EastMed pipeline, adding that we aspire that it will be signed in the first quarter of 2019.

In an address at the 6th Energy Symposium, entitled Faced with great decisions on energy, delivered on his behalf by Youli Boyatzopoulou the Head of the Economic and Commercial Section of Greece’s Embassy in Nicosia, Stathakis said that a project of strategic importance for Europe, Greece, Cyprus and the wider Eastern Mediterranean region is the natural gas pipeline EastMed.

He added that discussions between the countries involved to go ahead with the implementation of this emblematic energy project uniting Israel and Cyprus with Greece and the rest of Europe have matured.

According to Stathakis, the work undertaken by technical teams to draft the text of an intergovernmental agreement between Italy, Greece, Cyprus and Israel is expected to be completed soon and we aspire that the agreement will be signed during the first quarter of 2019.

House of Representatives Speaker Demetris Syllouris said during his address that developments on energy matters in Cyprus constitute a challenge for us, but also an opportunity to make a new more general plan based on energy and even the Cyprus problem.

The House of Representatives will support the formulation of a new, modern, growth policy, which will respect the environment, society and all citizens, he noted.

By adopting laws and regulations the House of Representatives will contribute significantly in the implementation of the country’s energy strategy, he added.

In general, Syllouris said, the amendment of legislation and rules and regulations but also the change of culture and mentality on how to manage the environment, energy and biodiversity, is a matter of urgency for every modern society.

Addressing Cyprus President Nicos Anastasiades who was also present at the symposium, the House Speaker assured him that Parliament will support your actions, adding that to that effect he proposes a more structured dialogue between the government and the legislative body.

Chairman of Natural Gas Public Company of Cyprus (DEFA) Symeon Kassianides said that the project for the introduction of liquefied natural gas (LNG) in Cyprus would be feasible, after securing financing by the European Commission and the European Investment Bank (EIB). He also said that many companies have shown interest to participate in DEFA’s tender for the design, construction, and operation of an LNG import terminal in Cyprus.

Kassianides said that unlike previous tenders that did not make it possible for natural gas to come to Cyprus, the separation of the infrastructure project from the gas supply has been documented in the security of supply that helped the Cypriot project to get European financing. As a result, he said, the project is considered to be feasible and there’s a lot of interest from companies to participate in the tender.

In his address, Invest Cyprus Chairman Michalis Michael said that prospects from the energy sector are huge, adding that everyone is expecting the outcome of the ongoing exploratory drilling in Cyprus’ EEZ.

Among other matters, Michael referred to the fact that while energy developments are cause for optimism at the same time Invest Cyprus is focusing on a multi-level approach, promoting investments in sectors such as tourism, shipping, research and development, education and large construction projects.

President of the Institute of Energy for South East Europe (IENE) John Chatzivassiliadis said that the evolution of Cyprus’ energy system and the transition to the new energy era and sustainable growth constitute the greatest challenges together with the exploration, production and transport of natural gas. At the same time, he ended, extending the European electrical network towards the East such as connecting Cyprus, is a necessary and useful strategic choice. He also said that Cyprus could cover a great deal of its needs through solar energy and natural gas applications with great economic and social benefits.

Addressing the conference on the part of Cyprus Chamber of Commerce (CCCI), Dinos Mitsides said that if Cyprus’ energy plans are implemented successfully then the country could become an energy hub in the Eastern Mediterranean region, something which would also contribute in attracting investments for large infrastructure projects.

During his address, on the part of the organisers, CEO of FMW Financial Media Way Iosif Iosif, said the symposium aims to best inform interested parties on the situation concerning the three pillars of energy, natural gas, electricity and renewable energy sources. Energy developments in the region open up new horizons for Cyprus on both a geostrategic and economic level, he said.

Addressing the symposium also on the part of the organisers, IENA Executive Director Costis Stambolis said that Cyprus’ energy mark is becoming more and more bold creating great expectations that it could contribute to Europe’s energy supply.

Source: Cyprus News Agency

EastMed intergovernmental agreement expected to be signed at Q1 2019, Greek Minister says

Greece’s Minister of Environment and Energy George Stathakis has said that Greece, Italy, Cyprus and Israel are drafting an intergovernmental agreement on the EastMed pipeline, adding that we aspire that it will be signed in the first quarter of 2019.

In an address at the 6th Energy Symposium, entitled Faced with great decisions on energy, delivered on his behalf by Youli Boyatzopoulou the Head of the Economic and Commercial Section of Greece’s Embassy in Nicosia, Stathakis said that a project of strategic importance for Europe, Greece, Cyprus and the wider Eastern Mediterranean region is the natural gas pipeline EastMed.

He added that discussions between the countries involved to go ahead with the implementation of this emblematic energy project uniting Israel and Cyprus with Greece and the rest of Europe have matured.

According to Stathakis, the work undertaken by technical teams to draft the text of an intergovernmental agreement between Italy, Greece, Cyprus and Israel is expected to be completed soon and we aspire that the agreement will be signed during the first quarter of 2019.

House of Representatives Speaker Demetris Syllouris said during his address that developments on energy matters in Cyprus constitute a challenge for us, but also an opportunity to make a new more general plan based on energy and even the Cyprus problem.

The House of Representatives will support the formulation of a new, modern, growth policy, which will respect the environment, society and all citizens, he noted.

By adopting laws and regulations the House of Representatives will contribute significantly in the implementation of the country’s energy strategy, he added.

In general, Syllouris said, the amendment of legislation and rules and regulations but also the change of culture and mentality on how to manage the environment, energy and biodiversity, is a matter of urgency for every modern society.

Addressing Cyprus President Nicos Anastasiades who was also present at the symposium, the House Speaker assured him that Parliament will support your actions, adding that to that effect he proposes a more structured dialogue between the government and the legislative body.

Chairman of Natural Gas Public Company of Cyprus (DEFA) Symeon Kassianides said that the project for the introduction of liquefied natural gas (LNG) in Cyprus would be feasible, after securing financing by the European Commission and the European Investment Bank (EIB). He also said that many companies have shown interest to participate in DEFA’s tender for the design, construction, and operation of an LNG import terminal in Cyprus.

Kassianides said that unlike previous tenders that did not make it possible for natural gas to come to Cyprus, the separation of the infrastructure project from the gas supply has been documented in the security of supply that helped the Cypriot project to get European financing. As a result, he said, the project is considered to be feasible and there’s a lot of interest from companies to participate in the tender.

In his address, Invest Cyprus Chairman Michalis Michael said that prospects from the energy sector are huge, adding that everyone is expecting the outcome of the ongoing exploratory drilling in Cyprus’ EEZ.

Among other matters, Michael referred to the fact that while energy developments are cause for optimism at the same time Invest Cyprus is focusing on a multi-level approach, promoting investments in sectors such as tourism, shipping, research and development, education and large construction projects.

President of the Institute of Energy for South East Europe (IENE) John Chatzivassiliadis said that the evolution of Cyprus’ energy system and the transition to the new energy era and sustainable growth constitute the greatest challenges together with the exploration, production and transport of natural gas. At the same time, he ended, extending the European electrical network towards the East such as connecting Cyprus, is a necessary and useful strategic choice. He also said that Cyprus could cover a great deal of its needs through solar energy and natural gas applications with great economic and social benefits.

Addressing the conference on the part of Cyprus Chamber of Commerce (CCCI), Dinos Mitsides said that if Cyprus’ energy plans are implemented successfully then the country could become an energy hub in the Eastern Mediterranean region, something which would also contribute in attracting investments for large infrastructure projects.

During his address, on the part of the organisers, CEO of FMW Financial Media Way Iosif Iosif, said the symposium aims to best inform interested parties on the situation concerning the three pillars of energy, natural gas, electricity and renewable energy sources. Energy developments in the region open up new horizons for Cyprus on both a geostrategic and economic level, he said.

Addressing the symposium also on the part of the organisers, IENA Executive Director Costis Stambolis said that Cyprus’ energy mark is becoming more and more bold creating great expectations that it could contribute to Europe’s energy supply.

Source: Cyprus News Agency