The Bright Future of the Energy Sector in Cyprus
Based on recent explorations from global conglomerates such as Total, one of the larger oil and gas corporations in the world, it is without a doubt that there are significant oil and gas resources, both discovered and undiscovered, in the Cyprus Exclusive Economic Zone. These recent findings have recently brought significant interest for huge energy investments in Cyprus. To facilitate and speed up the process, the Cypriot government has recently signed a number of international agreements that set the tone for a fast exploration of these energy resources. Furthermore, the Energy Minister for the Republic of Cyprus has recently announced the possibility of a temporary casino being built in the integrated resort and being awarded to the winning energy company of a future license. This provides more immediate income for the country whilst making bidding for the exploration licenses more enticing to the energy company.
All of these activities show the commitment, focus and determination of The Republic of Cyprus to ensure that the country realizes the full rewards and benefits of its rising and promising new sector as soon as possible. The importance of the development and growth of the emerging energy sector in Cyprus cannot be underestimated as it will act to strengthen and diversify the Cypriot economy. Put differently, with the establishment of this new sector, the future for Cyprus and its residence becomes even brighter than before and offers inspiration to all Cypriot residence and more diverse future career prospects for all residence.
Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index.
Sun, 3 Sep 2017