Cyprus Mail: Imported gas would have saved millions

THE DECISION not to import natural gas for power production after it became clear Cyprus had its own deposits is costing the country around €50 million a year in potential savings, said a senior electricity official yesterday. 

Electricity Authority of Cyprus (EAC) official Yiannis Tsouloftas questioned the wisdom of scrapping plans to import liquefied natural gas (LNG) which would have lessened Cyprus’ dependence on costly oil for electricity production. He noted the “great uncertainty” now surrounding the issue of when gas will be brought to Cyprus from its own offshore field in Block 12.   MORE