With the discovery of significant quantities if hydrocarbons in the exclusive economic zone of Cyprus, Cyprus can expect to gain great economic benefits as the world demand for the liquefied natural gas is strong and will remain to be.
Worth tens of billions, the quantities will satisfy the islands electricity production needs for the next 200 years. Cyprus is in the position to strengthen the energy security of the EU as it is the only country in the region that is an EU member. Currently the EU produces 48% of its energy needs and imports the remaining.
The natural gas deposits in Cyprus’ exclusive economic zone could help develop good relations with neighbors’, as the amounts exceeds Cyprus’ needs and can be exported abroad. It’s a great opportunity for natural gas to be transferred to Europe and Asia.
Cyprus, is already an established investment gateway to and from China and the Middle East and it can be the bridge of co-operation between Europe, China and all other countries in the region with the potential benefits of hydrocarbon discoveries in offering unity, constancy and prosperity.