Cyprus potential new gas conduit for Europe

President Nicos Anastasiades says other European Union countries recognize the Mediterranean island nation's potential to become a new conduit for natural gas to the continent.

Nicos Anastasiades said after an EU summit in Brussels on Friday that Cyprus can play a key role in the bloc's plans to diversify its energy sources and lessen its heavy reliance on Russian gas.

He said Cyprus' blossoming ties with neighbouring Israel, which has discovered offshore gas of its own, can bolster such planning.

Cyprus has discovered one field off its southern coast estimated to hold 3.6 trillion to 6 trillion cubic feet of gas, close to a much larger Israeli gas field.

Cypriot officials are hopeful for more discoveries in the country's waters.

Source: abcnews

Cyprus Profile

articles | 30 June 2014