Cyprus Mail
News in Brief

Russian involvement in Cyprus energy ‘will be beneficial’ to all

A liquefied natural gas plant

CYPRUS supports involvement of Russian companies in its energy market, the Cypriot ambassador to Russia has said.

Ambassador George Kasoulides told Sputnik:

“As far as the energy sector is concerned…we are more than eager to have Russian involvement in those activities and we encourage Russian companies to compete for a fair share of the Cypriot market.

“We also believe that Russian involvement will be beneficial for all countries in our region.”

Cyprus is reliant on fossil fuel imports for its electricity needs. The country spends over 8 per cent of its GDP to cover the costs.

To date, no oil or gas exploration concessions have been awarded to Russian companies during three licensing rounds in Cyprus.



Related posts

Beer consumption up in July

Staff Reporter

Police crack down on child pornography

Elias Hazou

Reported missing since Wednesday

Evie Andreou

Worker in serious condition after fall from roof

Evie Andreou

Pair arrested for harassing ‘foster mum’ of stray dogs

Staff Reporter

Arrest over phone theft

Andria Kades

32 comments

Comments are closed.