2023-05-15 15:00:21
GCASC Minister of Energy, Trade and Industry, Yorgos Papanastasiu, from the neighboring country for the purpose of liquefaction and electricity production. CyprusHe said that he plans to visit Israel again to meet with the Israeli Foreign Minister to discuss the solution of the pending issue regarding the natural gas pipeline project to Turkey, as well as the Aphrodite reserve and the Ishai reserve belonging to Israel, neighboring Cyprus. .
Referring to the Israeli Prime Minister’s statement on the subject, Papanastasiu stated that the talks in Israel would be towards signing an agreement for the implementation of the project, adding that the proposal in this direction came from the Greek Cypriot side.
“It is a fact that arrangements are being made for me to return to Israel to discuss two issues. One of them is the subject of Ishai-Aphrodite, and the other is to start to progress on the path of implementation in addition to planning and planning.”
Noting that the first stage is the signing of an agreement that will allow the construction of the pipeline that will connect the two exclusive regions, Papanastasiu said, “We start from that point.”
The project in question will involve the transport of natural gas to Cyprus, liquefying it and then transporting it by ship to Europe.
“You know that liquefied natural gas is in great demand, Europe is the continent that suffers the most and demands it the most, but we are also aware that the markets may be towards Asia in general,” said the Greek Cypriot Minister of Energy.
On the timetable for the implementation of the plan, Papanastasiu said after the political decision was taken and the companies expressed their interest, “we will need two and a half years for liquefaction, but the pipeline for electricity generation can be done in 18 months”.
Papanastasiu stated that the Greek Cypriot Ministry of Energy will organize a special workshop on May 29 with the participation of the Greek Cypriot leader, with the participation of companies in the natural gas supply chain.
“These companies are linked to the entire supply chain, from pipeline manufacturers to liquefaction terminal manufacturers and some companies interested in purchasing natural gas from liquefaction in Cyprus,” said Yorgos Papanastasiu.
Asked if this changed East Med plans, Papanastasiu said East Med would remain a corridor and said, “Now instead of a pipeline connecting Israel and Europe, it can pass through Cyprus and connect Cyprus to the rest of Europe in the form of liquefied natural gas. It will be a virtual pipeline,” he said.
Asked whether the reserves in Egypt are also related to this planning, Papanastasiu said that the planning for Egypt continues to be an alternative for companies. Papanastasiu concluded by saying, “What we are presenting now is, as Israel has said, we want to see an alternative to Cyprus as Israel, but as Cyprus we must have alternatives and not stick to just one solution”.
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