Cyprus minister outlines national energy strategy and security priorities

Cyprus Minister of Energy, Commerce and Industry Michalis Damianos recently addressed the challenges of transforming the island into a sustainable and interconnected energy market. He highlighted that Cyprus remains the only EU member state without an electrical interconnection, resulting in a heavy dependence on imported liquid fuels and some of the highest electricity prices in the European Union. The government's strategy focuses on energy diversification through investments in liquefied natural gas (LNG), renewable energy sources, green hydrogen, and storage systems. Minister Damianos emphasized that these measures are essential to mitigate the impact of volatile geopolitical tensions in the Middle East, including conflicts in Iran and disruptions in the Strait of Hormuz. Additionally, he noted that the region faces significant climate change threats, with warming rates twice the global average, leading to droughts and sea-level rise. Infrastructure projects, such as the LNG import facilities, are expected to reduce pollutant emissions by 25% to 30%. The Minister reiterated the government's commitment to projects like the Great Sea Interconnector as part of a rational approach to long-term stability.