China is becoming increasingly interested in Cyprus and the potential is “huge,” the head of the Cyprus-Chinese Business Association said yesterday.

US-based Noble Energy confirmed reports it is working on a proposal to bring natural gas from Cyprus’ exclusive economic zone (EEZ) onshore for the purposes of electricity production in 2016.

The first phase of an EU-backed plan to lay the world’s longest subsea electricity cable could be completed by 2017, project managers have said.

Ancoria Holdings Ltd., backed by Swedish shareholders, has filed for a banking license in Cyprus.

Energy giant Total is looking to participate in the development of a gas liquefaction terminal, it has emerged, as the cabinet approved a draft MoU with the French company.

At first glance the official announcement of the appraisal drilling results for the Aphrodite natural gas field may not be the best news to an economy experiencing a severe economic recession.

President Nicos Anastasiades discussed the new round of Cyprus peace talks and regional energy collaboration with Greek Prime Minister Antonis Samaras in Athens.

The Cypriot economy will contract by 8.7% in 2013, the IMF said, reflecting the rapid deterioration of the macroeconomic environment on the island.

Turkey sees a “window of opportunity” to end the decades-old division of Cyprus and expects peace talks between Greek and Turkish Cypriots to resume in November after a lull of almost 18 months, Foreign Minister Ahmet Davutoglu said.

Noble Energy, operators of the Block 12 offshore licence, has reportedly renewed a proposal for piping gas from the Aphrodite well for the purpose of domestic electricity generation.