Thursday 8 October 2015

UK energy security an example for Cyprus

UK energy security an example for Cyprus

Energy security is something Cyprus can learn from the UK.

Cyprus Energy Minister Yiorgos Lakkotrypis told ELN: "The plans of the country of how to create energy security for a nation which is ever expanding with more and more people populating the UK so I think that is one thing that we can learn from how do you actually manage such a diverse and fast growing need for energy.”

At the Cyprus-UK Business Forum in London yesterday, Mr Lakkotrypis said the country is ready to be an oil and gas supplier for Europe as the Eastern Mediterranean region has discovered "tremendous" sources for exploration.

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He added: "We are actually moving in the direction to become a producer. So far the Eastern Mediterranean has discovered about two thousand billion cubic meters and to put it in perspective, Europe consumes approximately 550-570bcm a year. So you can understand with all of the activity which is going on and potential new discoveries, the eastern Mediterranean can play this role for Europe."

Renewables is also a part of Cyprus' energy plans, said Mr Lakkotrypis, with the nation already making "significant investments" in both wind and solar.

The country has set a target of generating 13% of its electricity from green sources by 2020.

Written by

Bruna Pinhoni

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