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Talks aimed at a framework deal to sell Cypriot offshore gas to Egypt are ongoing, despite the recent discovery of a massive gas find in Egyptian waters, energy minister Giorgos Lakkotrypis reiterated recently.

Israel’s Delek Drilling is committed to developing the Aphrodite gas field, its CEO said recently, in line with its strategy of supplying the Cypriot and Egyptian markets with natural gas fast and efficiently.

UK gas giant BG Group PLC is in discussions with the Cyprus government to buy natural gas for its Idku plant in Egypt, Energy Minister George Lakkotrypis announced recently.

The discovery of the Zohr natural gas field off Egypt will not undermine private-sector negotiations about buying gas from Israel or Cyprus, Egypt’s petroleum minister said recently, playing down fears that potential deals could be under threat.

There are seven local banks operating in Cyprus.

According to Cyprus Securities and Exchange Commission’s (“CySEC”) announcement dated 9th of July 2015, the process starting from the date of granting the authorization of anew firm until the date of its activation, is as follows:

The following developments have taken place with regards to Cyprus' DTT network:

The potential existence of a massive gas field just south of Cyprus’ Exclusive Economic Zone (EEZ) will benefit the island by upgrading its geostrategic role, President Nicos Anastasiades said recently.

Italian group ENI said recently it had discovered the largest known gas field in the Mediterranean off the Egyptian coast, predicting the find could help meet Egypt’s gas needs for decades to come.