Cyprus Takes Step Forward In Becoming EU’s Reliable Natural Gas Source

Cyprus President Nikos Christodoulides has announced the commencement of exploratory drilling for natural gas in the Electra prospect, located offshore Cyprus.

The drilling operations, which began on Friday, are a collaborative effort between US oil and gas giant ExxonMobil and QatarEnergy.

This development is part of Cyprus’s strategic efforts to establish itself as a reliable source of natural gas for the European Union.

“Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the EU,” said President Christodoulides on X formerly Twitter.

ExxonMobil had previously announced plans to start drilling in January 2025, targeting natural gas in the offshore region.

The company’s Vice-President for Global Exploration, John Ardill, had expressed optimism about the prospects, stating, “There is huge potential for gas exploration.”

Ardill described the Electra prospect as “highly promising” after collecting detailed 3D seismic data over the past two years.

The successful exploration and extraction of natural gas in Cyprus could significantly contribute to the EU’s energy security and diversity. As the drilling operations progress, Cyprus is poised to become a key player in the regional energy landscape.

Source: https://energynewsafrica.com