The infrastructure for the introduction of liquefied natural gas for electricity generation places Cyprus on track for a new energy era, opening new strong prospects for the island’s economy, President of the Republic Nicos Anastasiades said on Thursday.

The new Minister of Energy, Commerce and Industry Natasa Pilides and Deputy Minister to the President for Shipping Vassilis Demtriades were sworn in on Tuesday.

Cyprus’ outgoing Deputy Shipping Minister Natasa Pilides said on Monday that the goal to establish a ferry connection between Cyprus and Greece is moving forward, noting that following consultations which began a year ago, the EU Competition Directorate-General has approved a state subsidy for the project valued of at a maximum of €6 million per year.