Cyprus Engages Gulf Energy Firms for Natural Gas Exploration

Cyprus is in early negotiations with Gulf energy companies interested in exploring natural gas reserves off its southern coast. These discussions may involve partnerships with existing license holders like Eni, Total, ExxonMobil, and Chevron, aiming to leverage their technical expertise and financial resources. Additionally, Cyprus is collaborating with the UAE on a joint investment for a submarine electricity cable connecting Cyprus with Greece. This project aims to reduce electricity costs, enhance energy security, and eliminate the island's energy isolation by 2030, aligning with the EU's energy diversification goals.