The climate that prevailed during yesterday’s meeting was very positive for Cyprus EU Energy Ministers The subject of their discussion is the way of detachment from the Russian natural gas, as stated by the Minister of Energy, Trade and Industry Natasa Pileidou. At the same time, Mrs. Pileidou stated that Cyprus is expected to extracts natural gas from the Aphrodite piece around 2026 while also saying that in her letter to the European Commissioner for Energy, she analyzed the important position of Cyprus in the EU energy as a country of the Eastern Mediterranean with gas fields.
In her statements after the Trade Committee, the Minister after being asked to comment on the results from Extraordinary Meeting of EU Energy Ministerssaid that the atmosphere at the Summit was formed very positive for Cyprus as changes have been made to the wording of the Joint Declaration to include the importance of finding alternative energy sources as well as the co-operation of Member States with such reserves to achieve independence from Russian gas. “Therefore, we consider important the interventions of Cyprus as well as the final result,” he said.
Ms. Peleidou referred to the very constructive teleconference he had with the EU Energy Commissioner a week ago, during which Cyprus was asked to submit written detailed plans with the possible role of Cyprus. He added that a letter has already been submitted to the Commissioner, which includes not only the opportunities that may be presented by our deposits and the ways in which exports to the EU can be made, but also the role of the country as a partner in the tripartite and multilateral cooperation with neighboring states.
Asking another question, Ms. Peleidou said that Cyprus is the only member state represented in the Eastern Mediterranean group of countries and therefore its role can be very important as a partner and representative of the EU in the region.
Asked if our country will exploit its fields now that the EU needs natural gas, he said that this is the effort, while noting that the pipeline to Turkey is a rather difficult task that will probably face the same challenges they face and other pipelines with technical and financial difficulties.
He said that there are many options in terms of infrastructure, noting that one is the Cypriot deposits to be connected by pipelines to Egypt, either together with Israel or separately. He clarified that contacts are being made with the companies that already have pipelines from various fields to the infrastructure of Egypt, and the discussions are advanced by the companies as well, as they must also be involved in order to be able to develop the infrastructure within the schedule ie three to four years.
Aphrodite is the primary target for the export of natural gas from Cyprus within these timetables. He noted, at the same time, that the more confirmed quantities of natural gas are added to the deposits of Cyprus, the easier it is to grow. “That is, the results of ‘Glafkos’ but also the results of the ENI-TOTAL drilling that will follow will be of great importance in terms of the whole picture,” he said.
Answering another question, the Minister of Energy said that the development scenario is very tangible, and seismic studies will definitely start in block 5 next summer as the bidding procedures have been completed. “Yes, there is the intention to accelerate and follow a program that has tangible results. “We also expect from Chevron, which we will see again in the next period, the 13th of the month, to see the program in more detail,” he said.
Asked to state the position of the Commission yesterday, he said that solidarity was expressed to all Member States. He noted that efforts are being made to intensify the debate on Russian gas de-dependence, but also on gas storage and storage issues, as well as the green transition that should not be secondary to the effects of the Russian invasion of Ukraine. .
Fuel consumption tax
Asked later whether she intends to extend the measure decided by the Government in March in relation to the reduction of the excise tax on fuel, Ms. Peleidou stated that this issue is already being studied by the Ministry of Finance and a serious study is being done to extend both that measure and to extend the VAT reduction measure for vulnerable consumers and other household consumers in electricity.
Commenting that the increases in fuel in Cyprus are made before the loads are received with the new high prices while they do not decrease when international prices fall, Ms. Peleidou said that 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 imported cargoes, no scandal has been identified regarding the companies operating in Cyprus,” he said.
He added that in the last 8 months, a great effort has been made to issue offers and develop a new software system, the processes of which have been completed in a short time and are now being implemented. This system is in agreement with the Auditor General, the General Accountant and other bodies and the parameters that are examined have been specified in order to determine whether there is a notoriety or not. He noted that this system has been implemented in recent weeks and based on this there is much better information and analysis in relation to the prevailing prices and in relation to price adjustments that are considered reasonable based on exchange rate differences, shipping costs. , so that the scandal can be detected immediately.
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