Cyprus Mail: Our View - Positive Gas News Should Not Be an Excuse to Ditch Reforms

Noble Energy's announcement that the natural gas in Block 12 was commercially viable and that the company would soon submit a development plan for its commercial exploitation was the type of positive news the government had been praying for. There had been too many false starts and disappointing developments in relation to the hydrocarbons over the last couple of years – some as a result of inexperience and lack of understanding of the industry by the government – so the good news was welcome.

Nobody could have been more relieved with the news than Energy Minister Giorgos Lakkotrypis, who had been unjustifiably building up expectations with repeated assurances about the building of a land terminal (now abandoned as an option), announcements about pre-sale agreements with other countries and nebulous plans about pipelines to Greece.

Read the full article HERE.