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Cyprus News Agency: News in English, 11-10-05

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] NATURAL GAS - CYPRUS

  • [01] NATURAL GAS - CYPRUS

    Cyprus will become the richest country in Europe after the drilling and financial exploitation of natural gas, Professor of Chemical and Biomolecular Engineering at Cullen College of Engineering of Houston University Michael J. Economides has said.

    In statements to CNA, on the sidelines of the Maritime Cyprus 2011 Conference, held here, Economides said that there are indications for immense natural gas reserves within Cyprus Exclusive Economic Zone (EEZ).

    He expressed the view that reserves in Block 12 where drilling is under way are 50 times more than Israels Leviathan.

    Economides said that an institution must be set up to coordinate all actions with regard to the financial exploitation of the natural gas.

    Asked if Cyprus could become an energy hub, Economides replied affirmatively, noting that the position of Cyprus in Europe will be very important.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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