Cypriot government reassessing energy potential 

Cypriot government reassessing energy potential 

Nicosia, October 30, 2015/Independent Balkan News Agency

By Kyriacos Kyriacou

The Government is reassessing the energy potential to take rational decisions on natural gas issues, Energy Minister Yiorgos Lakkotrypis said on Friday, after a meeting with the President of the Cyprus Green Party.

“Right now we are examining the situation as it has evolved and we are reassessing the energy potential, in order to make rational decisions,” Lakkotrypis said, asked about the possibility of a new licensing round in Cyprus Exclusive Economic Zone.

Asked when the Government will know whether Egypt`s giant natural gas “Zhor” field extends to Cyprus` EEZ, the Minister said that “to make that assessment we need to have the geological data of the drilling” and added that this is an issue discussed at political level with the Egyptian government.

“We are discussing this at government level. There are intergovernmental agreements on these issues,” he said.

He noted that Cyprus and Egypt have signed multi-level agreements that cover a wide range of issues, adding that during his recent visit to Cairo the two sides discussed what agreements are not included in their portfolio and one of them is the intergovernmental agreement on gas pipelines.

Replying to a question, the Minister said that he had a phone conversation with his Egyptian counterpart on Thursday about his visit to Cyprus, the date and the content.