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Cyprus also affected by energy prices despite not using natural gas

Cyprus also affected by energy prices despite not using natural gas


The energy ministers of the EU countries discussed the energy situation in the EU as a result of the Russian invasion of Ukraine and further steps after the suspension of gas supplies to Poland and Bulgaria by Gazprom at an extraordinary meeting of the Transport, Telecommunications and Energy Council in Brussels.

Cyprus was represented by the Permanent Secretary of the Ministry of Energy, Marios Panagides. Panagides explained in his speech that although Cyprus is the member state with the least dependence on Russian natural gas, it is nonetheless affected by significant increases in energy prices in general.

Panagides also said that Cyprus supports the measures promoted by the EU for its energy security, including the proposal for a Gas Storage Regulation and an EU Platform for Joint Purchases.

According to a statement from the Ministry of Energy, Member States expressed their full solidarity and readiness to assist the affected partners and exchanged views on ensuring the EU’s energy supply from reliable suppliers, on the transit of natural gas and the storage of gas reserves, in particular, in view of the coming winter.

Also discussed were the level of EU readiness, solidarity measures and possible emergency measures in connection with the situation with the EU energy supply.

In his speech, Panagides also mentioned the importance of tapping the energy reserves of the member countries, including the natural gas reserves of Cyprus, and stressed Cyprus’ efforts to create synergies with Greece, Israel and Egypt.

Panagides also touched upon the measures related to the “green transition”, noting that Cyprus supports these measures. However, he pointed out that the different starting points of each Member State had to be taken into account.

Source and photo:, Editor

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