Support for the plans of the Republic of Cyprus regarding hydrocarbon extraction, energy interconnections, including the GSI, and energy security in the region was expressed by the United States during the recent visit of the Minister of Energy, Commerce and Industry, Michalis Damianos, to the United States.
Mr Damianos told CNA that it was a “busy week of contacts,” which included participation in the Eastern Mediterranean Gas Forum and the Atlantic Council, where energy issues of the Eastern Mediterranean and broader international matters were discussed.
The contacts
According to the minister, important meetings were held with state officials from the US and the Eastern Mediterranean region, including the Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi. At the same time, as he said, there were contacts with oil companies at a high level, while in Washington he also met with the White House advisor on energy matters, Jarrod Agen.
Subsequently, within the framework of the 3+1 scheme, Cyprus, Greece, Israel and the United States, in Houston, Texas, Mr Damianos held a bilateral meeting with the US Secretary of Energy, Chris Wright. As he stated, “it was reaffirmed that the energy plans of the Republic of Cyprus are within a framework of cooperation, understanding and support from our partners in the region, Israel and Greece, as well as with the support of the United States.”
US support
The minister noted that from the American side there was an expressed intention for broader cooperation, which will be strengthened over time.
As he explained, US support concerns both hydrocarbon extraction, since American companies are also active in the region, as well as broader energy planning, including energy interconnections.
“We discussed hydrocarbon extraction, electricity interconnections including the GSI, which constitutes the starting point also for IMEC. We also discussed issues of energy security in the region, with the strong American presence supporting cooperation between Cyprus, Greece and Israel in terms of stability,” he said.
The minister underlined that, given the American assurances of support, Cyprus must proceed immediately with its energy planning.
Referring to the East Med Energy Center, EMEC, he noted that it is an important initiative for cooperation between the four countries in the fields of expertise and training in hydrocarbons, adding that Rice University in Houston plays a leading role in the energy sector.
Share from exploitation
Asked to comment on criticism regarding concessions to hydrocarbon companies, the minister stated that “we are moving more directly with the companies”. As regards the financial aspect, he noted that the Republic of Cyprus “will not invest capital, but will receive its share from the exploitation.”
As he stressed, there are currently no revenues from natural gas, highlighting the need to advance projects “within reasonable frameworks and for the benefit of the Republic of Cyprus, taking into account all factors and given the support of the United States.”
