The Minister of Energy, Trade and Industry, Michalis Damianos, in an interview with the newspaper Politis.
“The Kronos field, with natural gas reserves exceeding 3 trillion cubic feet, is expected to begin production in 2028. As for the benefits to Cypriot consumers and taxpayers, we need to take a realistic approach. The first revenues are expected after production begins, with initial amounts likely to be more limited, given that this is a field of a specific size. The greatest value of “Kronos” is that it marks Cyprus’s entry onto the map of natural gas-producing countries.” Michalis Damianos, Minister of Energy
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The Minister of Energy reiterates that the project in Vasilikos is of crucial importance, and the contract is expected to be awarded as soon as possible.
Regarding developments with GSI, the Minister of Energy urges patience.
“The Cyprus-Greece interconnection via the GSI is a major project of strategic importance, which is being reviewed based on the most recent data.We are awaiting the completion of the evaluation by the European Investment Bank so that we can have a clearer picture of the project’s details.” Michalis Damianos, Minister of Energy
Information published by the newspaper Phileleftheros indicates that, at present, the Cypriot government’s position regarding its financial obligations to GSI remains unchanged.
This is despite developments related to the involvement of the French company Meridiam.
The same sources report that Cyprus will pay its share as soon as the Greek government issues a NAVTEX authorizing offshore exploration, so that the final cost of the project.
See the report by Giorgos Georgiadis
