The Cypriot Council of Ministers has determined that discussions need to begin as soon as possible, with the Italian-Korean consortium ENI/KOGAS and the French Total E & P Cyprus, regarding the creation of a Vasiliko liquefied natural gas hub.

Cypriot Energy Minister Yiorgos Lakkotrypis confirmed that the nation will begin serious discussions with Egypt regarding natural gas offerings, following ENI-KOGAS initial exploration findings.

The President of the Athens Chamber of Commerce and Industry EVEA and the Union of Hellenic Chambers (KEE) Konstantinos Michalos, has stressed that current embargoes by Russia will have a negative result on Greek natural gas supplies, along with exports.