Cyprus President Nikos Christodoulides, said on Monday that the Republic of Cyprus was evaluating the updated development and production plan for the “Aphrodite” gas field, which was moving in the right direction.
“The proposal is in the right direction and aligns with the positions of the Republic of Cyprus. The presence of Chevron, a major US company, in our Exclusive Economic Zone is a vote of confidence for us. We will thoroughly evaluate the new proposal and then state our position,” the President noted in response to questions from journalists in Limassol.
He also mentioned that during his upcoming trip to New York for the United Nations General Assembly, he would meet with Chevron executives to discuss the issue further.
NewMed Energy announced on Sunday the submission of an updated development and production plan for the Aphrodite gas field, in Cyprus’ Exclusive Economic Zone, to the Cypriot government for approval. The plan drafted by the field’s partners NewMed Energy, Chevron, and Shell, is bas
ed on the previously approved development and production plan from 2019.
Great Sea Interconnector: Clarifications needed, lower electricity prices key to decision
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Regarding the Great Sea Interconnector project, President Christodoulides emphasized that the government’s decision depends on whether the project can ensure a reduction in electricity prices. He stated that the government is in contact with the Greek government, the European Commission, and the European Investment Bank, seeking specific clarifications.
“If the answers we receive are satisfactory, the government’s response will be positive. If not-if the clarifications do not guarantee a reduction in electricity prices-then the response will not be positive,” he explained, stressing that lower electricity costs are crucial for any decision.
The President also acknowledged the geopolitical risks involved, but emphasized that Cyprus, Greece, and the Europe
an Union are exercising their sovereign rights.
“There is no question of doubting our rights, but yes, we are taking this into consideration,” he said.
He outlined the government’s energy strategy, which has two main goals: achieving a green transition and reducing the high electricity prices compared to other EU member states. To achieve this, the strategy involves leveraging renewable energy sources, utilizing natural gas, and establishing interconnections. The Great Sea Interconnector, he added, is a key component of this broader strategic plan.
The Great Sea Interconnector is a major infrastructure project aimed at the connection of the Greek, Cypriot, and Israeli power grids via the world’s longest submarine power cable, with a length of 310 kilometres from Israel to Cyprus and 898 kilometres from Cyprus to Greece for a total of 1,208 kilometres.
Source: Cyprus News Agency
