The climate was very positive for Cyprus at yesterday's meeting of EU energy ministers to discuss the ways to decouple from Russian gas, as stated by Minister of Energy, Trade and Industry Natasha Pilidou.
At the same time, Pileidou said that Cyprus is expected to export natural gas from the Aphrodite block around 2026 while she also said that in a letter to the European Commissioner for Energy, she discussed the important position of Cyprus in the energy of the EU as an Eastern Mediterranean country with natural gas deposits.
In her statements after the Trade Committee, the Minister, after being asked to comment on the results of the Extraordinary Meeting of EU Energy Ministers, said that the mood at the meeting was very positive for Cyprus as changes were made to the wording of the Joint Declaration to include the importance of finding alternative energy sources as well as the cooperation of Member States with such reserves in order to achieve decoupling from Russian gas. "We therefore consider important Cyprus' contributions as well as the final outcome," she said."
Ms. Pileidou referred to the very constructive teleconference she had with the EU Energy Commissioner a week ago, during which Cyprus was asked to submit detailed plans in writing with Cyprus' possible role. He added that a letter has already been submitted to the commissioner, which includes not only the opportunities that are likely to be presented by our own deposits and the ways in which they can be exported to the EU, but also the country's role as a partner in trilateral and multilateral cooperation with neighbouring states.
In response to another question, Ms. Pileidou said that Cyprus is the only member state represented in the Eastern Mediterranean group of countries and therefore its role can be very important both as a partner and representative of the EU in the region.
Asked whether our country will exploit its deposits now that the EU is in need of gas, she said that this is the effort, noting that the pipeline to Turkey is a quite difficult project that is likely to face the same challenges that other pipelines face with technical and financial difficulties.
He said there are several options in terms of infrastructure, noting that one is to interconnect the Cypriot fields with pipelines to Egypt, either together with Israel or separately. He explained that contacts are being made with the companies that already have pipelines from various fields to Egypt's infrastructure, and discussions are also advanced on the part of the companies, as they also need to be involved in order to be able to develop the infrastructure within the timetable that has been set, which is three to four years.
The first target, he continued, for exporting gas from Cyprus within these timeframes is Aphrodite. He also noted that the more confirmed gas volumes are added to Cyprus' fields, the easier it is to develop. "That is, both the results of 'Glafkos' and the results of the ENI-TOTAL drilling that will follow will be of great importance in terms of the whole picture," she said.
In response to another question, the Energy Minister said that the development scenario is very tangible, and seismic studies are certainly starting on Block 5 in the coming summer as the bidding procedures have been completed. "Yes, there is an intention to accelerate and pursue a program that has tangible results. We are also expecting from Chevron which we will see again in the next period, 13th of this month, to see in greater detail the programme," he said.
Asked to give the Commission's position yesterday, he said solidarity was expressed with all member states. She noted that efforts are being made to intensify the discussion regarding the decoupling from Russian gas, but also regarding gas storage and reserve conservation issues as well as the green transition which should not be put on the back burner due to the consequences of the Russian invasion of Ukraine.
Excise duty on fuel
Asked then whether she intends to give an extension to the measure decided by the Government in March in relation to the reduction of excise duty on fuel,[/B] Ms. Pileidou said that this issue is already being studied by the Ministry of Finance and a serious study is being made to extend both that measure and the VAT reduction measure for vulnerable consumers and other domestic consumers in electricity.
In a comment that fuel increases in Cyprus are made before loads are received with the new high prices while they are not reduced when international prices fall, Pileidou said Cyprus is a small market and imports are made at regular intervals of 2 to 3 weeks. "Therefore, based on the prices that have been checked so far of the cargoes that have been imported, no obscenity has been detected[/B] as far as the companies operating in Cyprus are concerned," she said.
She added that over the past 8 months, a major tender effort has been made and a new software system has been developed, the procedures of which have been completed in a short period of time and is now being implemented.
This system is in agreement with the Auditor General, the General Accounting Office and other agencies and the parameters that are being examined to determine whether there is obscenity or not have been specified. He noted that this system has been put in place within the last few weeks and based on this there is much higher quality information and analysis in relation to prevailing prices and in relation to adjustments in prices that are considered reasonable based on exchange rate differences, transport costs, so that obscenity can be identified immediately.
Source: CNA
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