• About Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ
  • Contact Us
Login | My Posts
Accountants in Cyprus
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
Accountants in Cyprus
No Result
View All Result
Home Publications News & Announcements

World equities dip; euro, crude recover

December 8, 2009
in News & Announcements
Reading Time: 2 mins read
A SENIOR government official yesterday denied reports that a mission to Egypt to negotiate a natural gas deal had returned to the island empty-handed.

According to Politis, the Cypriot delegation was told by Egypt’s state-run EGas that they had no natural gas stocks to sell because multinational corporations were at this time unwilling to invest in new liquefaction plants there.

Cyprus is interested in purchasing liquefied natural gas (LNG) which would be converted back into its gaseous form (or re-gasified) at facilities on the island.

Due to its proximity, Egypt is considered an ideal supply partner, although the government is also holding contacts with Algeria and Russia’s Gazprom.

Solon Kassinis, head of the Energy Department at the Commerce Ministry, said the reports about Egyptian denial were inaccurate.

“We went to Egypt to explore the availability of LNG…we neither got a ‘No’ nor a ‘Yes,” he told the Mail.

Kassinis said a slot would open up in 2012, when a supply contract between Egypt and British Gas (BG) is set to expire.

“At that time, the Egyptians will have available some 1.7 billion cubic meters of natural gas. They will initiate a bidding contest, and certainly we’ll be keeping an eye on that.

“But in the meantime we are exploring other options as well,” he said.

The reports come just a day after it surfaced the government would skip tenders for the purchase of natural gas and would go straight to negotiating an agreement with a foreign government.

This would be done to save precious time and find a supplier as soon as possible.

But news that the government was suddenly changing course sparked an indignant reaction from main opposition party DISY. The rightwing party accused the administration of conducting business in a non-transparent manner.

Rejecting the criticism, Commerce Minister Antonis Paschalides said the government never deviated from its stated policy, namely, to negotiate directly with foreign governments.

“We want to cut out the middleman…people or corporations that would receive a commission,” said Paschalides.

Before it can import natural gas, however, Cyprus needs to have in place the necessary infrastructure. But a re-gasification facility is not expected to be ready before 2014 or 2015.

The government has apparently shunned the possibility of buying compressed natural gas (CNG), which requires far less investment.

By Elias Hazou, Cyprus Mail, February 19, 2009

ShareTweetShare

Newsletter

Latest News

Interview with George Karatzias, Vice-Chairman of the Cyprus Securities and Exchange Commission
Interviews

Interview with George Karatzias, Vice-Chairman of the Cyprus Securities and Exchange Commission

November 28, 2023

George Karatzias, Vice-Chairman of the Cyprus Securities and Exchange Commission (CySEC), outlines Cyprus’ asset management industry and highlights the importance...

Read more
In an exclusive interview at Gold Magazine, George Themistocleous, Managing Partner and CEO of RSM Cyprus, discusses the reasons behind the firm’s impressive growth and ways of dealing with tempestuous macroeconomic headwinds, all the while offering a glimpse of his vision of the firm’s future.

Growth Powered by Understanding

November 21, 2023
RSM Cyprus - Proud Platinum Sponsor of the 9th International Funds Summit and Expo

RSM Cyprus – Proud Platinum Sponsor

November 21, 2023

Accountants in Cyprus is an accounting portal that consists of information in the field of finance and a network of Cyprus accounting firms and other financial service providers .

USEFUL LINKS

  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos
  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos

USEFUL LINKS

  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms
  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms

AFFILIATED SITES

logo-lawyers-in-cyprus
lawyers-malta

2023 © Accountants in Cyprus. All Rights Reserved. Developed by Wizzweb

  • About
  • Cyprus Accounting Services
  • Auditors in Cyprus
  • Cyprus VAT
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Accountants Cyprus
    • Cyprus Economy
  • Find Accountants
  • Contact Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ

© 2023 Accountant in Cyprus

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.