Cyprus is set to reach a major milestone in 2027, as it prepares to transport its first natural gas, Minister of Energy, Commerce, and Industry George Papanastasiou said on Thursday.
Following a meeting with trade union SEK, Papanastasiou highlighted the significance of the upcoming agreement with Egypt, which President Nikos Christodoulides will personally underscore during his visit to the neighboring country.
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“The signing of agreements that will commercialize Cyprus’ natural gas is a crucial step forward,” the minister stated. He noted that while discussions have long focused on exploration and reserves, the next and most critical phase—exporting gas to international markets—is now underway.
“These agreements will define how the gas reaches global markets. This process involves Egypt as the host country, the companies that have invested in the deposits, and, of course, the Republic of Cyprus, which is eager to bring its natural gas to the market,” he explained.
SEK Union Secretary General Andreas Matsas emphasized that the deal also holds strategic importance for the European Union in its push for energy independence.
Papanastasiou further stressed that revenues from natural gas and other investments will ultimately flow back into Cyprus’ economy, reinforcing the country’s financial stability and growth.
