Cyprus Transforms to Natural Gas Exploitation from Exploration

Lakkotrypis stated at the Eastern Mediterranean Gas Conference, "Cyprus is at a turning point as for the first time we are progressing from exploration to exploitation phase," today in Nicosia according to Parkiaki.

Referencing meetings by Cypriot President Anastasiades and Noble VP for Eastern Mediterranean Keith Elliot, the Energy Minister commented, "I cannot emphasise strongly enough the significance of this development as it will be the first time that Cyprus is moving from the exploration to the exploitation phase of its natural resources."

Additionally, Lakkotrypis discussed an MOU between Egypt and Cyprus regarding their governments and natural gas companies, who are determining how to best construct a pipeline carrying natural gas.