Cyprus seen potential new gas conduit for Europe

Associated Press |

NICOSIA, Cyprus (AP) — Cyprus' president says other European Union countries recognize the Mediterranean island nation's potential to become a new conduit for natural gas to the continent.



Nicos Anastasiades said after an EU summit in Brussels on Friday that Cyprus can play a key role in the bloc's plans to diversify its energy sources and lessen its heavy reliance on Russian gas.

He said Cyprus' blossoming ties with neighboring Israel, which has discovered offshore gas of its own, can bolster such planning.

Cyprus has discovered one field off its southern coast estimated to hold 3.6 trillion to 6 trillion cubic feet of gas, close to a much larger Israeli gas field.

Cypriot officials are hopeful for more discoveries in the country's waters.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd is engaged in the exploration of mineral resources. The Company owns a 100% interest in the Madison Gold and Copper Mine located in Southwestern Montana.

Private Markets

Santo Diablo Mezcal

Santo Diablo Mezcal has been created to capitalize on a boom sector of the beverage market currently full of many small unmemorable products by producing one sexy, household, easily recognizable…

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.