Greece And Cyprus Explore Energy Cooperation

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 12, 2012 -- The two countries will evaluate financially and technically the prospect of interconnecting Cyprus’ and Crete’s electricity networks, a move which will open prospects for an electricity interconnection of Crete with the rest of Greece in the future, Greek Minister of Environment, Energy and Climate Change George Papaconstantinou said in statements after talks with Commerce, Industry and Tourism Minister Praxoulla Antoniadou.

Papaconstantinou said they discussed all issues concerning energy and specifically natural gas, electricity and renewable energy sources. He noted that various ideas have been submitted on natural gas pipelines, noting that there are also discussions on technical, financial and geostrategic issues.

As regards natural gas, he said that Greece is following Cyprus’ experience with interest, after the discovery of oil reserves in its Exclusive Economic Zone (EEZ).

He noted that Greece is moving forward with procedures for seismic research and exploration in specific blocks, in the hope that by the end of the year they will be able to begin drilling.CNA

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