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/ Business News / 2008 / January 2008 / January 27, 2008 Cyprus and Qatar explore natural gas deal |
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Cyprus is considering signing a bilateral agreement with Qatar for the supply of natural gas to cover the islands needs.
Nicosia, Jan 27 : Cyprus is considering signing a bilateral agreement with Qatar for the supply of natural gas to cover the island's needs.
Cyprus, which is a member of the European Union, has the obligation to reduce carbon emissions and put an end to its absolute dependence on oil as an energy source.
The issue was raised during a meeting between Cyprus Commerce and Industry Minister Antonis Michaelides and the first ambassador of Qatar to Cyprus Mubarak al Nasser.
Qatar is estimated to hold 14.9 per cent of natural gas world reserves, putting it in the second place on the list of gas producing countries, while it comes first in the production of Liquefied Natural Gas (LNG).
Mubarak al Nasser conveyed to Michaelides the readiness of his country to negotiate with the Cyprus Government the supply of natural gas and assured him that an official invitation would soon be extended to him towards this purpose.
He also invited Michaelides to inaugurate the forthcoming launch of direct flights between the two countries. By Iaonnis Solomou
ANI
