Cyprus is ready to provide Europe with gas instead of Russia

Cyprus announced its readiness to supply its gas to Europe instead of Russian and conclude long-term contracts.

About this proposal in an interview with Bloomberg said Natasa Pilidis, Minister of Energy of Cyprus. She speaks of the republic’s desire to help Europe get rid of dependence on Russian natural gas supplies. The publication quotes:

“Europe is a good potential consumer for Cypriot gas as EU confirmed that natural gas will remain an intermediate fuel until 2049 as part of the green transition, so companies can now enter into long-term contracts.”

According to the Cypriot minister, the EU plans to end cooperation with the Russian Federation as soon as possible, regardless of the timing of the end of the war in Ukraine. At the beginning of next year, Cyprus is going to start drilling a well in the offshore Aphrodite field. Its reserves, according to preliminary estimates, amount to 125 billion cubic meters. The work is scheduled to be completed by 2027.

The plans of Cyprus, which are currently under discussion, include the possibility of building a gas pipeline with a length of about 200 km. According to experts, it will be able to transport liquefied gas in volumes of approximately 3.5 billion cubic meters per year, writes Bloomberg.



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