NICOSIA - The discovery of natural gas in Cyprus` exclusive economic zone (EEZ) is a fact and it is possible that it also contains liquid hydrocarbons, such as oil, Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis has said.
He added that this creates great prospect for cooperation in the energy sector, especially with Greece and Israel for the time being, and that through specific infrastructure Cyprus can constitute the link between Europe and the hydrocarbon deposits in the Eastern Mediterranean, with the creation of an additional energy route.
Addressing the 2nd Energy Symposium in Nicosia, Lakkotrypis said regional infrastructure could be the natural gas liquefaction plant at Vassiliko, the undersea pipeline and the electricity cable linking Greece, Cyprus and Israel.
Lakkotrypis noted that the government was working towards the introduction and use of natural gas in the country`s electricity production and in this direction was seeking an interim solution by importing natural gas until Cyprus extracts its own.
Furthermore, he referred to the agreements signed with neighbouring countries in the energy sector and the delineation of Cyprus` EEZ.
He also referred to efforts to promote the use of renewable energy sources, noting that by the year 2020 Cyprus must achieve 13% contribution of renewable energy sources to the country`s gross final consumption of energy and 10% in the gross final consumption in transport.