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[PIO] Statements by the Minister of Energy on the Vasilikos terminal and the Aphrodite field

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The Minister of Energy, Trade and Industry Mr. George Papanastasiou referred today to the Vasilikos terminal and the Aphrodite deposit.

In his statements to journalists after the commemoration of the hero Michael Olybios in Lympia, where he represented the President of the Republic, the Energy Minister, asked about the Vasilikos terminal, said that "consultations are taking place at the diplomatic and technical level".

He added that this is a contract between two parties, the Republic of Cyprus and the consortium led by a Chinese company, noting that the Republic of Cyprus is trying to facilitate the dialogue, adding: "We are in a direction where the Vasilikos terminal should be implemented."

He pointed out that the Republic of Cyprus needs the terminal and that it is so important because it is the first way for LNG to come in to reduce the cost of electricity.

"We gave direction," he added, "that a way should be found to complete the terminal," noting that an internal timetable has been set in June for a decision to be made. Minister replied that from information and contacts he has "there is light on the horizon."

Asked to comment on Turkey's intentions to bring a drilling rig to the region and how much this worries the Republic, the Minister said: "Not at all. Turkey knows what it expects in the region and what it is trying to prescribe," stressing that there are international rules "and it is in this international law that the Republic of Cyprus operates and proceeds with its drilling program," while Turkey can operate within its own EEZ and continental shelf.

Regarding the Aphrodite field, the minister said: "We have received a proposal from the consortium led by Chevron."

Papanastasiou added: "We have asked for a more concrete path, leading to the implementation of the project. This is the most mature field that we have in our EEZ, it is important, and it is located in a very geostrategic point in the Cypriot EEZ and in the region. We trust this consortium that within a timeframe, that is within six months, they will bring us something very concrete, so that the development of the field can proceed."

(PM/AF/MS)
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Views & opinions expressed are those of the author and/or PIO

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