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South Cyprus signs third round of drilling licenses

South Cyprus signs third round of drilling licenses

March 08
10:23 2017

The process of extracting the natural wealth around the island, which is regarded as the biggest catalyst of the solution to the Cyprus problem, continues at a rapid pace.

The tender process involving the oil and natural gas giants of the world, including Exxon Mobil and Shell, was concluded yesterday.

Greek Cypriot Energy Minister Giorgos Lakkotripis noted that the negotiations with the companies participating in the 3rd round of license registration were successfully completed.

Lakkotripis, who informed the Greek Cypriot ministers’ board about the issue, said that new licenses will add a new dynamic to the establishment of LNG terminal in Vasiliko, the amount of natural gas discovered will be the driver for building the terminal, but the government should be prepared for this option.

Lakkotripis stated that “Turkey’s provocation does not affect our agenda. We continue our programme normally.

Kibris Postasi

 

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