Papanastasiou

The Republic of Cyprus is entitled to request from the implementing entity - Greece's Independent Power Transmission Operator (ADMIE) - an updated report on the cost-benefit analysis regarding the electricity interconnection between Cyprus and Greece as well as the updated business model, Cypriot Minister of Energy, Commerce and Industry George Papanastasiou has said.

Cypriot Energy Minister George Papanastasiou announced on Wednesday that the obstacles in the development plan for the Aphrodite gas field have been overcome, marking progress in Cyprus' energy ambitions.

Τhe Cypriot government will request that Greece's Independent Power Transmission Operator (ADMIE) carry out a cost-benefit study as regards the Cyprus-Greece electricity interconnection (Great Sea Interconnector), Cypriot Energy Minister Giorgos Papanastasiou said on Tuesday.

Cyprus aims to complete construction of the liquified natural gas (LNG) terminal in Vasilikos by the end of 2024, Energy Minister George Papanastasiou said on Monday. 

The terminal is part of the EU's Projects of Common Interest (PCI) scheme, with €101 million in funding.

On Wednesday, Cypriot Minister of Energy, Trade and Industry George Papanastasiou and Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla discussed how to strengthen cooperation between Cyprus and Egypt in the field of energy. 

The Cypriot cabinet has approved the proposal by the minister of energy, commerce and industry, George Papanastasiou, regarding the grants initiative aimed at enhancing upgrades and strengthening the competitive edge of major enterprises.

Chevron has successfully obtained an extension until Friday to submit a crucial letter detailing its plans for the development of the Aphrodite field, as Cyprus' Minister of Energy, Trade and Industry George Papanastasiou confirmed on Monday.

The political and economic ramifications from the Israel-Hamas war may provide an impetus to plans for a pipeline conveying offshore natural gas to Cyprus for processing and shipping to foreign markets, the east Mediterranean island nation's energy minister said Tuesday.

Cypriot Energy Minister George Papanastasiou has issued a new message to Chevron, operator of the Aphrodite gas field, via Parliament ahead of the crucial meeting with Chevron's Chairman Clay Neff. It comes as the deadline for resolving the dispute over the development plan of the field approaches.

Cyprus' Ministe of Energy, Commerce and Industry George Papanastasiou has set the goal of having a solution to the issue of energy storage within the next 18-24 months, so that green energy is not rejected.