Negotiations for proceeding with natural gas exploration in more offshore fields has entered into a crucial phase, with commerce Minister Neoclis Silikiotis having further talks with officials of the French Total company.

Total was allocated block 11 during the second round of licencing for shale gas exploration.

Silikiotis had similar talks yesterday with officials of a joint venture made up of Italian ENI and South Korean Kogas.

Meanwhile, Silikiotis dismissed a suggestion by politicians to sell part of block 12, in which a large reserve of gas has feen found, to meed pressing financial needs.

He said that Cyprus could get out of its economic crisis within two years after
entering into gas exploration agreements with international energy giants.

Published by: www.famagusta-gazette.com