Cyprus Minister of Energy, Commerce and Industry: Liberalisation should be completed by 2022 - CYPRUS MAIL

April 4, 2021
Andrew Rosenbaum

Natasa Pilides, minister for energy, commerce and industry, has kindly conceded to Dr. Charles Ellinas and Andrew Rosenbaum a major update on energy policy and legislation. The Minister addresses nearly every important issue in the sector.

Q: Cyprus’s energy sector appears to be fragmented. Your Ministry in not in full control of all energy-related functions and activities on the island. This surely affects efficiency and effectiveness. Are there plans to lead to more effective coordination, or even more centralised planning and control?

A: I would say that the organisation of the energy sector at the state level is fairly sound, in that policy setting and implementation lies with the ministry, while the all-important role of the Regulator is kept separate and independent, in the hands of CERA. Having said that, energy is necessary and present in all aspects of life, from our homes to every type of business and industry, and as such, it should be, and is, at the heart of strategy formulation, much more so in recent years when the transition to a green economy has become our primary focus.

Natural Gas: Cyprus Heading towards a New Energy Era - CYPRUS MAIL

JUNE 27, 2018

Two European co-funded projects Cynergy and Cyprus Gas2EU, organised a Discussion Forum with the title “Natural Gas: Cyprus Heading towards a New Energy Era” at the Filoxenia Conference Centre in Nicosia. The event was under the auspices of the Ministry of Energy, Commerce, Industry and Tourism and the Ministry of Transport, Communications and Works, and attracted more than 160 delegates from the transport and energy sectors, public bodies, and international organisations. The first official presentation of the CYnergy video was also held during the event.

In his welcome speech, Mr. Lakkotrypis emphasized on the importance of CYnergy, as being an extremely important project for Cyprus, since it sets the foundations for importing LNG and thus contributes to the island’s energy security and the roll-out of gas market. He also added that CyprusGas2EU is a project of particular national importance, as it will help Cyprus to finally wean itself off conventional fossil fuels for electricity production, which currently account for approximately 90 per cent.

Europe: Cyprus to launch tender for FSRU purchase - BUNKERSPOT

20.06.2018

The floating storage regasification unit (FSRU), which will be permanently stationed in Vasilikos harbour, is expected to facilitate LNG bunkering.

The FSRU is a key component of the CyprusGas2EU project, which falls under the European Union’s (EU) CYnergy project that aims to promote the uptake of natural gas in Cyprus and the development of a sustainable and fully functional natural gas market.

In a keynote address during a workshop in Nicosia earlier this week, Energy Minister Giorgos Lakkotrypis, who revealed that a separate tender for the import of LNG would be launched by the end of the year, said that Cyprus2GasEU had received €101 million in funding from the EU for the €250 million project.

‘Essentially, we shall be able, where necessary, to trade LNG between the infrastructures at Vasilikos and the [LNG terminal] at Revythousa in Greece,’ Lakkotrypis was quoted as saying by Cyprus Mail.

Eastern Mediterranean gas discoveries redefine LNG playing field - LNG WORLD SHIPPING

Wed 28 Mar 2018

Mike Corkhill

The Eastern Mediterranean is fast becoming a gas hub, with numerous LNG projects, plentiful recent gas finds and likely further discoveries

Newly discovered offshore gas deposits in the exclusive economic zones (EEZs) of Egypt, Israel and Cyprus, coming on top of similar major finds in recent years, are poised to alter the energy map of the Eastern Mediterranean irrevocably. LNG projects, which already play a key role in the region’s gas distribution logistics, will be impacted by the upcoming development of the Eastern Mediterranean gas fields.

The majority of the LNG projects in the area are import schemes, and floating storage and regasification units (FSRUs) have proved to be the most popular route to securing access to new gas supplies quickly and at relatively low cost. Turkey, Egypt, Israel and Jordan make use of FSRUs to import LNG while Greece, Cyprus and Lebanon are evaluating FSRU projects.

Energy programme proceeding as planned, president tells oil and gas forum - CYPRUS MAIL

March 27, 2018

Jean Christou

Cyprus is promoting three projects that were selected by the European Commission as projects of common interest, because of their benefits to the European energy market, President Nicos Anastasiades said on Tuesday.

The president was addressing the 9th Mediterranean Forum on Oil and Gas in Nicosia, telling delegates that recently, two of the projects had secured EU funding. Specifically, €101 million will be allocated to the CyprusGas2EU project, while the EastMed Pipeline had been awarded €34.5m for technical studies.

EMGC '18: Cyprus to import gas via FSRU to meet EU GHG targets - WORLD OIL / HYDROCARBON PROCESSING

March/22/2018
Adrienne Blume

NICOSIA -- Day 2 of Gulf Publishing Company's Eastern Mediterranean Gas Conference (EMGC 2018) in Cyprus kicked off with a keynote presentation by Dr. Symeon Kassianides, chairman of The Natural Gas Public Co. (DEFA) of Cyprus. Dr. Kassianides spoke about the proposal to establish a floating storage and regasification unit (FSRU) to import gas to Cyprus for use in power generation.

The target for first gas is 2020. In light of this tight deadline, which is motivated by Cyprus' need to meet EU greenhouse gas (GHG) emissions limits, DEFA is working with Cyprus' energy ministry and EU organizations to move quickly on the project.

Dr. Symeon Kassianides, chairman of The Natural Gas Public Co. (DEFA) of Cyprus.

CyprusGas2EU Project scope. The FSRU project—known as CyprusGas2EU—stems from the European Commission's €7.5-million CEF Syngery (CYnergy) Project, which is concerned with the establishment of an integrated storage, transmission and distribution system for natural gas in Cyprus in the forms of LNG and CNG. CYnergy, which has been 60% funded, aligns with the CyprusGas2EU Project's supply target date of 2020.

The CyprusGas2EU Project has successfully secured environmental licenses and intergovernmental licenses (e.g. Greece). Consultations with all Cypriot operating financial institutions have been held, and a grant of €101 million has been secured to fund 40% of the CyprusGas2EU project.

Cyprus receives €101MM grant for FSRU project - HYDROCARBON PROCESSING

JAN/25/2018

Connecting Europe announced on January 25 that it will support the introduction of natural gas in Cyprus through the CyprusGas2EU project (EU support of €101 MM).

The grant will help end the present energy isolation of the Cyprus, bring diversification to a region dominated by a single source of supply, and help reduce air pollution and emissions by allowing switching from heavy fuel oil to gas for power generation. It will also improve energy security and price competitiveness.

Read the full press release from the European Commission here.

Gulf Publishing Company will host the fifth incarnation of its Eastern Mediterranean Gas Conference (EMGC) in Nicosia, Cyprus,from 21–22 March 2018. The conference provides attendees with the latest and most accurate information on the region’s developing natural gas industry, and the ability to gain entry to regional markets and seek potential new business partners.