March 16, 2022 INSIDER • GOAL • IN-CYPRUS • PROPERTY • CYPRUS-IS • CAREER LIKE • GOING OUT • XRYSES SYNTAGES • ACTIVE • PHILGROUP NEWS & nbsp; SOCIETY & nbsp; INSIDER & nbsp; OPINIONS & nbsp; GOING OUT & nbsp; CULTURE & nbsp; SPORTS & nbsp; AUTO & nbsp; GOOD LIFE & nbsp; USEFUL & nbsp; PRINTED EDITION & nbsp;
ARCHIKIEIDISEISPOLITIKITOPIKAPARASKINIOMEDIAELLADAKOSMOSEPISTIMIPERIVALLONTECHNOLOGIASYNENTEFXEISCHRYSES ETAIREIESKOINONIAEIDISEISKYPROS OF CHTHESANAGNOSTI HAVE LOGOEPISTOLESSYNENTEFXEISDIMOFILI IN INTERNETVIDEOSAFIEROMATAADVERTORIALINSIDEREPICHEIRISEISKYPROSBRAND VOICECAPITALFORBESBLOOMBERG OPINIONPROTAGONISTESKAFTI GRAMMICHRYSES ETAIREIESKARIERAAPOPSEISARTHRA IN “F” INTERVENTION IN “F” MESSAGE YOUR SKITSAO WORLD TWITTERGOING OUTTHINGS TO DOCINEMAMOUSIKIESTIATORIABAR/CAFETV ODIGOSTILEORASIPOLITISMOSKYPROSKOSMOSKRITIKESEKDILOSEISPROSOPAATHLITIKAPODOSFAIROMPASKETPARASKINIAELLADADIETHNIALLA SPORAPOPSEISSKITSOVIDEOSAUTONEAPAROUSIASIAPOSTOLESAGONESKALI ZOIFGEIADIATROFIEF ZINASTRACHRYSES SYNTAGESSYNTAGES SEFVIMA VIMACHRISIMAFARMAKEIAGIATROIAERODROMIALIMANIATILEFONAOPAPKAIROSSYNALLAGMALACHEIAAPPSPROSFORESENTYPI EDITION POLITIKITOPIKAPARASKINIOMEDIAELLADAKOSMOSEPISTIMIPERIVALLONTECHNOLOGIASYNENTEFXEISCHRYSES COMPANIES EIDISEISKYPROS OF CHTHESANAGNOSTI HAVE LOGOEPISTOLESSYNENTEFXEISDIMOFILI THE INTERN ETVIDEOSAFIEROMATAADVERTORIAL EPICHEIRISEISKYPROSBRAND VOICECAPITALFORBESBLOOMBERG OPINIONPROTAGONISTESKAFTI GRAMMICHRYSES ETAIREIESKARIERA ARTICLES IN “F” INTERVENTION IN “F” MESSAGE YOUR SKITSAO WORLD OF TWITTER THINGS TO DOCINEMAMOUSIKIESTIATORIABAR/CAFETV ODIGOSTILEORASI KYPROSKOSMOSKRITIKESEKDILOSEISPROSOPA PODOSFAIROMPASKETPARASKINIAELLADADIETHNIALLA SPORAPOPSEISSKITSOVIDEOS NEAPAROUSIASIAPOSTOLESAGONES YGEIADIATROFIEF ZINASTRACHRYSES SYNTAGESSYNTAGES SEFVIMA STEP FARMAKEIAGIATROIAERODROMIALIMANIATILEFONAOPAPKAIROSSYNALLAGMALACHEIAAPPSPROSFORES ENTERPRISES LTD BRAND VOICE CAPITAL FORBES BLOOMBERG OPINION PROTAGONISTS HOT LINE GOLDEN CAREER COMPANIES
Next Previous Medium-term selection for the EU the Cypriot energy deposits for the EU the Cypriot energy deposits
The choice of the Eastern Mediterranean in terms of energy deposits in Cyprus and EastMed is a more medium-term choice for the EU, as it will take some time to implement the necessary investments, said today the Minister of Energy, Trade and Industry, Natasa Pileidou.
Invited, after the meeting of the Council of Ministers, to comment on reports that global energy developments may bring to the fore again the project concerning the EastMed pipeline, Ms. Pileidou said that “we certainly hope that the development of the Aphrodite deposit and the other deposits in Cyprus will come to the fore, which can be an alternative source of energy supply in the EU and in other markets.”
< READ ALSO: & nbsp; Government throws € 49 million into energy - Two new plans
He added that “whether the EastMed pipeline will be built will definitely depend on the confirmed quantities that are available for export “, to note that” at the moment certainly the deposits of Cyprus which are confirmed are not enough but if there is interest from Israel, then EastMed could definitely be an option “.
< p>Asked about the EastMed viability study, Ms. Pileidou said that the data has not changed.
“The implementing body has until the end of this year to complete the sustainability studies and make the final investment decision. “Therefore, this is the timetable that is still in force,” he said.
Asked to say if there is a result from the confirmation drilling in the “Glafkos” deposit, Mrs. Pileidou said that the confirmation drilling will be completed by the end of March “and an announcement will be made as soon as we have the completion and departure of the drilling rig”.
He added that “we will expect some information from the consortium, which will relate more to the quality of the gas that has been identified. “As for the exact quantity, it will take some more time to process the data and we hope that after a few weeks of analysis they will be able to inform us more thoroughly about the quantity that has been ascertained”, he added.
When asked where he stumbles the utilization of natural gas, Ms. Peleidou said that the main reason why the “Aphrodite” deposit has not been exploited so far is that the companies are walking in accordance with their contracts and contractual obligations. “So strictly speaking, they are not late, they go on a contract basis,” he noted.
He added that the reason why the margins in the implementation of the commitments have been exhausted is that the deposit is quite limited, compared to the investments that need to be made.
“That is why Chevron, “The new manager of the Aphrodite consortium is working out ways to work together and find synergies either with deposits in Israel and Chevron's operations in Israel, or with other activities in Egypt,” he continued.
He said that “the latest developments are certainly promising and positive in terms of the need to develop more deposits, and that is why we certainly encourage the consortium to move forward more vigorously with its interventions and find the necessary synergies so that growth can proceed.”
Fuel and electricity prices
Asked about the increase in prices for fuel and electricity, Ms. Pileidou said that the two sponsorship plans for the energy upgrade of buildings approved today by the Council of Ministers as well as all the ongoing plans, the plans for the replacement of energy consuming devices, the plans of the RES Fund and EXE for the upgrade of houses and the installation of photovoltaics in homes, now with the expansion of virtual net metering, which allows the installation of photovoltaics in areas other than the roof of the premises in terms of household consumers, will help reduce electricity costs in the long run and is the best method for consumers who have the opportunity.
For vulnerable consumers, Ms. Peleidou said that there are special provisions and special companies, “which are willing to make the investment with our pre-approval, so that the vulnerable consumers do not have to pay an amount themselves and the sponsorship is taken by the company itself afterwards”.
“Therefore there are options for everyone,” he said, adding that “extending the duration of the VAT reduction is something that will help with the cost of electricity.” “We are also promoting through the passing of the bill for the RES and EXE Fund and the reduction for the next period of the consumption fee which will also contribute to the reduction of costs”, he said. But, he added, such are the increases that certainly the reduction is about restraint and convenience of consumers and not necessarily a reduction compared to what was in force in previous years. As for fuel, the Minister of Energy said that we see a lot of fluctuations in prices. “The reason they are not immediately reflected in the reduction of prices is that the shipments that come to Cyprus come every few weeks, due to the fact that we are also a small market. Therefore, the increase or decrease is not always immediate,” he added. >
& nbsp; He pointed out that the Ministry of Energy monitors very closely and elaborates various ideas for optimization and monitoring and measures that can be taken when cases of scandal are identified. Ms. Peilidou said that there are options in the market, most gas stations have implemented the reductions and there are individual cases that have been found that the reduction of taxes in the consumer has not been fully transferred.
& nbsp; “Therefore we encourage all consumers “to do a market research, look at the Price Observatory issued by the Consumer Protection Service and choose the most advantageous solutions,” he said. Noting that there were increases in the same loads, Ms. Peleidou said that the increases observed were in the consignments that came based on the prices that were valid during the days of receipt. where they are detected, if irregularities are detected – and so far no irregularities have been detected – & nbsp; the necessary measures will be taken “, he noted.