Famagusta Gazette: Energy Minister: Promising prospects for natural gas, while encouraging ones for oil

Minister of Energy Giorgos Lakkotrypis has said that in addition to the discovery so far of 5 tcf of natural gas in Cyprus` Exclusive Economic Zone, the government is optimistic for further discoveries in the near future, as over the next 12 to 18 months the exploration activities of the licensees will intensify.

“Prospects appear very promising", he said, adding that "moreover, there are encouraging indications for oil discoveries offshore Cyprus”.

Addressing a conference on the security of natural gas supply, that takes place in Malta, the Minister said that as of today, more than 35 tcf of natural gas have been discovered in offshore Israel, approximately 5 tcf have been discovered in the Cyprus Exclusive Economic Zone (EEZ) and, according to Lebanese officials, preliminary estimates from seismic surveys show resources of about 30 tcf of natural gas in Lebanon.
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