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