Cyprus in talks with Gulf energy companies over natural gas licences, president says

NICOSIA, Cyprus — Energy companies from Persian Gulf states have expressed interest in searching for natural gas off the southern coast of Cyprus, President Nikos Christodoulides said Friday.

Speaking at an energy conference in Nicosia, he said Cypriot authorities are in early talks with several unidentified companies regarding exploration licenses for some of Cyprus’ 13 areas, or blocks, inside an exclusive economic zone.“We encourage the involvement of other companies as well, other energy giants,” Christodoulides said. “It’s a vote of confidence for the potential of Cyprus’ exclusive economic zone, but there are many other political and diplomatic dimensions.

Christodoulides said a development plan for one of the Eni-Total gas fields, which is estimated to hold 2.5 trillion cubic feet of gas, is expected to be completed “soon.”The 1,000 MW cable, which has received 657 million euros of funding from the European Union, aims to cut Cyprus’ electricity costs and end its energy isolation.

Christodoulides said EU backing for the project is in line with the bloc’s aim to achieve energy price parity in all member states by 2030.

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Risky Russian and Ukrainian business dealings dwindle with Cypriot banks that adhere to sanctionsCyprus banks say their exposure to risky Russian and Ukrainian businesses shrunk by more than 13,000 clients and 35,000 accounts amounting to $2.17 billion in the year after Moscow’s 2022 invasion of its neighbor as they fully adhered to sanctions that the U.N., the European Union, the U.S. and Britain have imposed on Russia.
منبع: AP - 🏆 728. / 51 ادامه مطلب »

Russian and Ukrainian business dealings with Cypriot banks dwindled due to sanctions, banks sayCyprus' banks say their exposure to risky Russian and Ukrainian businesses shrunk by more than 13,000 clients and 35,000 accounts, amounting to $2.17 billion, in the year after Moscow’s 2022 invasion of its neighbor as they adhered to sanctions that the U.N., the European Union, the U.S. and Britain have imposed on Russia.
منبع: wjxt4 - 🏆 246. / 63 ادامه مطلب »

Russian and Ukrainian business dealings with Cypriot banks dwindled due to sanctions, banks sayCyprus' banks say their exposure to risky Russian and Ukrainian businesses shrunk by more than 13,000 clients and 35,000 accounts, amounting to $2.17 billion, in the year after Moscow’s 2022 invasion of its neighbor as they adhered to sanctions that the U.N., the European Union, the U.S. and Britain have imposed on Russia.
منبع: ksatnews - 🏆 442. / 53 ادامه مطلب »