Cyprus’ Minister of Commerce, Industry & Tourism Nicos Rolandis met yesterday with Lebanese Energy and Water Minister Mohammad Hamid Beydoun with whom he discussed the delimitation of the exclusive economic zone between the two countries as well as natural gas issues. Speaking after the meeting, Mr. Rolandis stated that he anticipates an agreement to be finalised between the two countries over the next two to three months. Similar discussions have taken place with Egypt, Syria and other countries in the region. Mr Beydoun stated that his country has invited British experts to prepare a report, according to which his country will make relevant decisions, based on the scientific findings.

Mr Rolandis added that he and his counterparts from neighbouring countries are currently discussing the possibility of Cyprus becoming the base for liquefying and sale of natural gas under favourable terms to European countries, mainly Mediterranean markets.

Cyprus' major interest is to shift and modify its electricity generation from fuel to gas and considers using the Egypt-Syrian pipeline for the purpose. In the event where gas is found within Cyprus’ boundaries, this will be included in the said pipeline.