Editorial Ta Nea: Following Cyprus’ example in hydrocarbon exploration

The drilling that was completed last week in the Exclusive aEconomic Zone (EEZ) of the Republic of Cyprus and resulted in the discovery of a large deposit of pure natural gas highlighted the region’s energy dynamic.

Energy Minister Natasa Pilidou, who announced the results of the drilling, said that the prospect of the three consortiums that have been awarded licenses there increases the possibility of effectively exploiting energy deposits and places Cyprus on the energy map.

The natural gas discovery in block 6 of Cyprus’ EEZ is cause for optimism.

That is not only because it creates new prospects for all of Europe, which in the new terrain created by the Russian invasion of Ukraine has mounting, grave concerns about its energy future and is seeking ways to gain independence from Russian fossil fuels.

With patience and decisiveness, the Republic of Cyprus is demonstrating how the mineral wealth of the Eastern Mediterranean can be exploited

At the same time, it is sending a geopolitical message to Turkey, as was evidenced in Ankara’s response to the new development.

Cyprus’ example also sends an indirect message to Greece regarding how we can exploit our own natural gas deposits south of the island of Crete and in the Ionian Sea, which have remained untouched until now.

At long last, the Greek state must proceed swiftly with the necessary procedures, so that we, too, can exploit our natural resources and lighten the burden of dependence on imported energy in the future.