This first Energy Conference in Malta is the kick-off towards a strengthened gas cooperation in the Mediterranean area; at the same time it sets a significant milestone by acknowledging the important role that our region can play in the security of gas supply of the European Union.
Our fruitful discussions highlighted the great advantages that a closer co-operation could generate between the EU and non-EU countries of the Mediterranean sea. The Mediterranean area can develop to be a new promising source for oil and gas supply and an alternative transportation route for the European Union; the recent gas discoveries in the Southeastern Mediterranean can have a direct positive impact on EU’s energy security and competitiveness.
Establishing an EU-Mediterranean Platform on Gas will bring together policy makers, industry leaders, financiers, regulators and energy stakeholders; it can facilitate the development of a common understanding between importing and exporting states, while identifying mutually beneficial arrangements on issues such as exploration and exploitation activities, safety and environmental protection, export infrastructures, financing of investments and energy security.
Energy can and should be a catalyst for conflict resolution and regional cooperation; Energy cooperation can have a positive spillover effect in the political relations between the Mediterranean countries.
Discussions have illustrated the vital role Cyprus can play, given the recent significant natural gas discovery in our Exclusive Economic Zone and the very promising prospects for further gas discoveries arising from the very ambitious exploration programme that is currently underway by two major European companies.
Cyprus, being the only European Union Member State in the South-East of the Mediterranean region and given its excellent long lasting relations with its non-EU Mediterranean neighbors, is strategically positioned to play a vital role in achieving our common goals.
A Cyprus based LNG facility could offer European consumers the maximum flexibility at competitive prices with zero transit risk; Cyprus could develop as the first ever EU Member State to emerge as an LNG exporter and realize the concept of an Eastern Mediterranean Gas Corridor within the framework of EU’s policy for the diversification of import sources and routes.
In the longer term, Cyprus, as the southernmost EU Member State in a volatile and troubled region, has the potential to become a regional liquefaction hub and contribute to the long-term geopolitical stability, promoting peace and economic development.
Published by: www.moi.gov.cy
