President Christodoulides has revealed interest from Gulf energy companies in Cyprus’s Exclusive Economic Zone (EEZ) blocks during his address at the 12th Energy Symposium.
Describing this interest as a vote of confidence in Cyprus’s EEZ prospects, Christodoulides noted the development’s broader political and diplomatic implications.
The president reported intensive progress on the development of the “Aphrodite” gas field, with developments expected in January. He also mentioned plans for developing the “Kronos” field, following his recent telephone conversation with ENI CEO Claudio Descalzi.
Regarding the Cyprus-Crete electrical interconnection project, Christodoulides announced that Cyprus will make statements about share capital participation by year-end. Discussions are ongoing with Greece, France, and the United Arab Emirates to establish a joint company for project participation.
He added that during his recent meeting with the US President, they discussed interest from American investment funds in the project.
On the Vassilikos natural gas import terminal, the president said the process of hiring a project manager through ETYFA is being finalised to resume construction work.
The floating unit “Prometheus” is expected to arrive by late December, with the entire project scheduled for completion by the end of 2025.
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