Cyprus seeks to attract Asian investors

Cyprus’ foreign minister Foreign Minister Erato Kozakou-Marcoullis is wooing Asian investors for the country’s natural gas sector

EU member state Cyprus is looking for investors from Asia in the energy sector in a bid to diversify its economy away from the dominant maritime sector, a report in the Bangkok Post shows.

“There have been some companies from this region such as Petronas which has been investing in this sector and more could participate in the near future,” Foreign Minister Erato Kozakou-Marcoullis told the paper.

She added that the country had a number of gas exploration blocks for which the country will issue tenders, stressing that Asian companies should look at possibilities in exploration and production in the future. The volume of the blocks was 350 trillion cubic feet of natural gas, the minister said.

The reserves, if all proved, would be 30 times larger than the best estimates of reserves in Myanmar, which is the key supplier of natural gas to Thailand, Kozakou-Marcoullis added. The minister attended the Asia-Europe Meeting (ASEM) in Vientiane, Laos, last week, and had a stopover in Bangkok.

She said it was “time for the cooperation between Asia and Europe to be strengthened further,” adding that the EU could learn lessons from how Asia emerged stronger after its crisis in the late 1990s.



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[caption id="attachment_5243" align="alignleft" width="300"] Cyprus' foreign minister Foreign Minister Erato Kozakou-Marcoullis is wooing Asian investors for the country's natural gas sector[/caption] EU member state Cyprus is looking for investors from Asia in the energy sector in a bid to diversify its economy away from the dominant maritime sector, a report in the Bangkok Post shows. “There have been some companies from this region such as Petronas which has been investing in this sector and more could participate in the near future,” Foreign Minister Erato Kozakou-Marcoullis told the paper. She added that the country had a number of gas exploration blocks...

Cyprus’ foreign minister Foreign Minister Erato Kozakou-Marcoullis is wooing Asian investors for the country’s natural gas sector

EU member state Cyprus is looking for investors from Asia in the energy sector in a bid to diversify its economy away from the dominant maritime sector, a report in the Bangkok Post shows.

“There have been some companies from this region such as Petronas which has been investing in this sector and more could participate in the near future,” Foreign Minister Erato Kozakou-Marcoullis told the paper.

She added that the country had a number of gas exploration blocks for which the country will issue tenders, stressing that Asian companies should look at possibilities in exploration and production in the future. The volume of the blocks was 350 trillion cubic feet of natural gas, the minister said.

The reserves, if all proved, would be 30 times larger than the best estimates of reserves in Myanmar, which is the key supplier of natural gas to Thailand, Kozakou-Marcoullis added. The minister attended the Asia-Europe Meeting (ASEM) in Vientiane, Laos, last week, and had a stopover in Bangkok.

She said it was “time for the cooperation between Asia and Europe to be strengthened further,” adding that the EU could learn lessons from how Asia emerged stronger after its crisis in the late 1990s.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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