Cyprus Mail
Energy

‘More US energy companies to operate in Cyprus’

US Ambassador to Cyprus Judith Garber has said more US energy companies will operate in Cyprus, joining ExxonMobil and Noble Energy.

Speaking at a business dinner of the American Chamber of Commerce in Cyprus, in Nicosia on Wednesday evening, she also said that US national security, Cyprus’ national security and the security and stability in the Eastern Mediterranean are inextricably linked, and reiterated the position of the United States that it recognises the right of the Republic of Cyprus to develop resources in its Exclusive Economic Zone (EEZ).

“We also believe these resources should be equitably shared between the Greek Cypriot and Turkish Cypriot communities. We are concerned about the unlawful activities of the drillship Yavuz, which is operating within the territorial sea of the Republic of Cyprus. This provocative and unlawful step raises tensions in the region. We are confident that these resources can contribute to the overall economic wellbeing of Cyprus and thus be a positive force for achieving a solution to the Cyprus problem,” she added.

Garber also noted that the discovery of hydrocarbons in the EEZ of Cyprus offers great promise. We hope, she added, such resources promote prosperity in the entire Eastern Mediterranean region and help to diversify Europe’s energy supply.

The Ambassador said moreover that “we are proud that two American companies – ExxonMobil and Noble Energy – are participating in this game-changing development.

“I firmly believe other US companies in the energy sector will join them, as Cyprus transitions from discovery of energy resources to the hard task of bringing those resources to market,” she added.

Moreover, she stressed the importance of maintaining an environment that attracts investment, noting that “investors from America and elsewhere always look for predictable, stable environments, with assurances that agreements and contracts will be honoured, backed by secure financial institutions to manage income and expenses.”

Trilateral initiatives among Cyprus and Greece and their regional partners such as Israel, Egypt, and Jordan were important and encouraging, she added, building resilience and acting as a multiplier to attract investment to the region.

She referred to the participation of US Secretary Mike Pompeo in the trilateral gathering in March in Jerusalem with President Anastasiades, Prime Minister Netanyahu, and then-Prime Minister Tsipras.

“We will continue to look for opportunities to join such meetings to lend our support as they advance security and prosperity in the Eastern Mediterranean region,” the Ambassador said.

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