Statement by the Minister of Energy for the Memorandum of Understanding with Eni / KOGAS
The Minister of Energy, Commerce, Industry and Tourism, Mr. Yiorgos Lakkotrypis made statements to the Press today regarding the Memorandum of Understanding signed at the Ministry, with representatives of the Eni / KOGAS consortium.
In particular, referring to the Memorandum Mr Lakkotrypis said: "The MoU signed today is an agreement between the Republic of Cyprus and the Eni / KOGAS consortium to explore ways of exploiting the potential gas reserves in the Cyprus Exclusive Economic Zone (EEZ), with priority given on the land Liquefaction Terminal.
In essence today's signing confirms the commitment of the Government to promote the land terminal as the optimal solution for the exploitation of potential deposits of the Republic of Cyprus, provided, of course, that more natural gas quantities will be found. The current agreement also constitutes the completion of a cycle of agreements we have with the licensees of the Blocks- since agreements with Noble and Total have already preceeded – with the aim of aligning their actions for the creation of a land Natural Gas Liquefaction Terminal.-30.07.2014