New era

Financial Mirror (Cyprus) - - FRONT PAGE -

Pres­i­dent Ni­cos Anas­tasi­ades also un­der­lined the sig­nif­i­cance of an Amer­i­can pres­ence in Cyprus’ EEZ dur­ing a re­cep­tion at the US em­bassy in Ni­cosia this week.

Texas-based No­ble En­ergy in 2011 made the first dis­cov­ery off Cyprus in the Aphrodite block es­ti­mated to con­tain around 4.5 tril­lion cu­bic feet of gas – it has yet to be mon­e­tised.

“We warmly wel­come and ex­press our deep ap­pre­ci­a­tion for the pres­ence and in­volve­ment of Amer­i­can com­pa­nies – No­ble and now through the en­ergy gi­ant Exxon-Mo­bil – in Cyprus’ ex­clu­sive eco­nomic zone for the ex­plo­ration and ex­ploita­tion of hy­dro­car­bon re­serves,” said Anas­tasi­ades.

“This not only marks a new era in our bi­lat­eral re­la­tions, but it is also a tan­gi­ble sign of trust to the re­li­able, pre­dictable and sta­bil­is­ing role we have as­sumed in our volatile neigh­bour­hood and our ef­forts to sub­stan­tially con­trib­ute to en­hanc­ing en­ergy se­cu­rity for our coun­try, our neigh­bour­hood and the Euro­pean Union,” he added.

Anas­tasi­ades said there was a joint vi­sion to trans­form the Eastern Mediter­ranean into an en­ergy hub that would con­trib­ute to the re­gion’s sta­bil­ity, through the di­ver­si­fi­ca­tion of en­ergy sources and routes. More­over, Mitchell said the US would re­main en­gaged in the Cyprus peace process to es­tab­lish a bi­zonal, bi­com­mu­nal fed­er­a­tion.

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