A European Parliament regulation might affect the extraction of hydrocarbons in the Cypriot EEZ.

According to it, there is a need to set a strict legal framework for the protection of the environment, the drilling companies must prepare plans in cases of environmental pollutions while independent will establish frequent inspections.

The issue was discussed between the House European Affairs Committee and the Energy Commitete of the Euro-Parliament during their meeting.

Chairman of the Affairs Committee and DISY MP, Averof Neophytou stressed the need to be on alert.

“The European Commission recommended to the European Parliament a proposal for health and environmental issues for extracting gas and oil in the sea”, he said.

“This regulation will relate primarily to Cyprus, apart from some excavations made in the EEZ of the United Kingdom”, he added.

Mr. Neophytou expressed his respect for the environment and public safety and urged the government and the Ministry of Commerce, MEPs and Parliament, to be on alert and consider very carefully the proposal of the European Parliament so as not to make arrangements that would be prohibitive for the extraction of hydrocarbons in sea areas within the EU.

"We respect the sensitivities to environmental and public health but on the other hand it should not be a regulation that would prohibit the extraction of this national wealth”, Mr. Neophytou concluded.