Minister of Transport: Cyprus can become an important energy hub in the Mediterranean

CEB1 123 News, Energy
CEB1 471 News, Energy

Cyprus can develop into an important energy center in the Mediterranean, said Transport Minister Marios Dimitriadis, adding that new and dynamic projects in the fields of shipping and energy can begin.

Mr. Dimitriadis noted that the Cypriot Government will implement a policy that will concern the future needs of the country in maritime transport in relation to its hydrocarbons.

"Our goal for the future is to consolidate and further develop our role in global shipping and to provide adequate conditions for the sustainable development of the shipping sector," said the Minister of Transport in his welcoming speech at the opening of the East exhibition in Limassol. Med Marine and Oil & Gas ”, organized for the eighth time in Cyprus.

Mr. Dimitriadis said that Cyprus has firmly established itself as a recognized international shipping center that combines a dominant flag and an on-site shipping industry known for its high level of services and security levels, adding that the Cypriot register is currently between Cyprus is the third largest fleet in the EU.

The Minister of Transport noted that despite the bad international economic conditions and the economic difficulties that the country has experienced in recent years, the shipping sector of Cyprus has managed to maintain its competitiveness and prospects, as a result of the coordinated efforts of the public and the private sector.

He added that shipping has evolved in recent years into one of the pioneering sectors of the Cypriot economy, noting that given its importance, the further development of the shipping sector is on the list of priorities of the Cypriot Government.

He added that the discovery of hydrocarbons creates new challenges for the shipping industry and new prospects for the country and its economy, and that a new industry is emerging in Cyprus to meet the needs of offshore activities.

"Cyprus has the potential to develop into an important energy center in the Mediterranean. Offshore exploration and the production of gas and oil, as well as their transport to land, require the operation of specialized ships and equipment and the supply of special support services. "These new developments are very promising and expand the horizons of our maritime industry, creating new synergies," said the Minister of Transport.

He added that in addition to being a successful shipping hub, Kyros meets the criteria to become a hub for trade in the region, as well as a transhipment hub for trade between Europe and the Far East, due to its location strategy.

He pointed out that the various shipping markets located on the coasts of the Levant, the North Adriatic and the Black Sea can be easily accessed from Cyprus with minimal diversion from the main arterial routes and that Cyprus is also a center for other trade in the Mediterranean. and for interregional shipping.

He said that with the upgrade of key infrastructure facilities and the successful privatization of the port completed in 2016, the island will strengthen its position as a key regional transport hub.

He further added that co-operation in the field of hydrocarbons could also affect political relations between the countries of the Eastern Mediterranean, laying the foundations for regional stability and peace.

He said the completion of demarcation and co-operation agreements between the countries could be fundamental to regional co-operation, which would strengthen the mood for investment and development.

He expressed the belief that a possible lifting of the Turkish embargo will lead to a very large development of the Cypriot registry and port industry.

"It will dramatically increase the attractiveness of the Cypriot flag, Cypriot shipping and container shipments through Cyprus to Asia and the Middle East. "Cyprus can be developed into a pioneering relocation center in the Eastern Mediterranean and become one of the main centers of maritime transport and energy / logistical support", he concluded.