Signing of Agreements on Natural Gas ‘An Historic Day,’ Says Cypriot President

Jerusalem, 16 February, 2025 (TPS-IL) -- Nicosia (CNA) – Monday will be an “historic day” for the Republic of Cyprus, since two “very important agreements” will be signed for the first time in relation to the commercialization of natural gas in the Cyprus Exclusive Economic Zone, President Nikos Christodoulides said.

Speaking to journalists on the sidelines of a ceremony at the Presidential Palace, Christodoulides said Monday would be “an historic day for the Republic of Cyprus.”

“Two very important agreements will be signed for the first time in relation to the commercialization of natural gas in the Cyprus Exclusive Economic Zone”, he said, noting that these were two agreements of “geostrategic, political, energy, economic importance.”

To a journalist’s question about what these agreements mean for the Republic of Cyprus and the milestones that were agreed upon, Christodoulides said that the agreements concern offshore blocks 12 and 6 in the Republic of Cyprus’ Exclusive Economic Zone. He referred to “two important agreements, one with Egypt, ENI and Total, which will progress faster”, he said, noting that the other concerns plot 12, in which Chevron, Shell, and NewMed are involved, “all these companies, which have already moved forward with specific plans, so we are moving forward on the basis of the planning for commercialization.”

Considering the current regional and international situation, Christodoulides said, this was a development that “decisively affects” developments in the field of cooperation with the states of the region, in the economic sector, in the energy sector “and, primarily the Cypriot people.”

Asked about the timeframes as regards the commercialization of natural gas, the President said he had a specific date in mind, which emerged from discussions with stakeholders, but that he would not like to say anything specific.

“What is most important to us is that it is implemented as planned and then relevant announcements will be made,” he said.