Cyprus hopes to emerge as a dependable energy exporter by developing its offshore gas reserves, Energy Minister Michalis Damianos said at a recent Economist roundtable on Southeast Europe and the Eastern Mediterranean.
Damianos outlined progress by Chevron, ExxonMobil, TotalEnergies and ENI, saying first exports of Cypriot gas are expected in the coming years via Egypt’s liquefaction facilities and then to European markets.
“We are preparing for 2028, when our gas will move to Egypt for liquefaction. We believe Cyprus will become an energy exporter from its own reserves,” he said.
He highlighted the planned electricity interconnection with Greece and Israel, noting it will allow Cyprus to export daytime power and capitalize on its solar potential.
Damianos pointed to the East Mediterranean Gas Forum and the “3+1” cooperation between Cyprus, Greece, Israel and the United States as key mechanisms for advancing regional energy coordination.
Greek Energy Minister Stavros Papastavrou said initiatives such as the 3+1 format, the East Med Gas Forum and the Vertical Corridor are reshaping the region’s energy architecture. He said gas from Cyprus and Israel routed through Egypt and the Vertical Corridor could reach Central and Eastern Europe, calling the project transformative.
Bulgarian Energy Minister Iva Petrova described the Vertical Corridor as highly valuable for Europe and said Bulgaria aims to strengthen its role as an energy transit and electricity‑storage hub.
Moldova’s Energy Minister Dorin Junghietu said no country can achieve energy independence or become a hub without cross‑border interconnections. East Med Gas Forum Secretary‑General Osama Mobarez said the region needs more projects and deeper connectivity.
