EY Cyprus participated as Grand Sponsor at the 2nd Capital Link Invest in Cyprus Forum that took place on Friday, September 28, 2018, at the Metropolitan Club in New York. The Forum was organized by Capital Link with the active support and involvement of the Cyprus Union of Shipowners and the Cyprus Investment Promotion Agency.
- The Forum stressed the increasing importance of Cyprus as a regional maritime, logistics, energy and operational hub
- Keynote address by the President of the Republic of Cyprus, Nicos Anastasiades
- Stavros Pantzaris, EY Cyprus Country Managing Partner, moderated the Energy panel discussion
Capitalizing on the success of last year’s event, the Forum was organized with the aim to maintain the momentum of raising awareness about Cyprus as a global business and investment destination to a wider investor audience. The repetition of this event on a regular basis provides a high level platform for informing the US investment, financial and business communities on the progress, developments and outlook of the Cypriot economy and highlighting investment and business opportunities in key areas such as banking and financial services, shipping and transportation, logistics, energy and tourism, including opportunities arising out of the oil and gas exploitation at the Cypriot Exclusive Economic Zone.
The President of the Republic of Cyprus, Nicos Anastasiades, delivered the keynote address at the official luncheon, while keynote remarks were also provided by Harris Georgiades, Minister of Finance, Yiorgos Lakkotrypis, Minister of Energy, Commerce, Industry & Tourism, and Natasa Pilides, Deputy Minister of Shipping.
Stavros Pantzaris, EY Cyprus Country Managing Partner, introduced and moderated the panel discussion on the subject “Cyprus as a Regional Energy Hub – Business & Investment Opportunities in Energy”. According to Mr Pantzaris:
“Recent oil & gas developments have created a positive momentum and have firmly placed Cyprus on the energy map as an emerging energy, maritime and logistics hub. A few months ago, ENI and Total concluded a successful drill in Block 6 and are now planning their next activity, while ExxonMobil with Qatar Petroleum have already announced the commencement of their drilling program in Block 10 later this year. Last week, an inter-state agreement was concluded between Cyprus and Egypt for a gas pipeline to transfer gas from the Aphrodite Block to Egypt. Depending on any additional gas reserves to be discovered in the region, the options of the construction of the EastMed pipeline and/or a liquefaction plant on the island are still on the table.”
The event attracted a high level of participation from both the government and the private sectors in Cyprus and the United States, including distinguished speakers, the CEOs of major Cypriot banks and senior executives of Cypriot, US and international companies active in the region.