The government seeks to hasten the procedures for the extraction of natural gas. The issue will be discussed between the President of the Republic and representatives of Noble on Wednesday.

The meeting might be attended by representatives of the Israeli Delek too.

Energy Manager of the Commerce Ministry, Solon Kasinis ensured earlier today that the procedures have been hastened so that by the end of the year Noble Energy is in the position to start the extractions at plot 12 of the island’s Exclusive Economic Zone.

“Via a proposal submitted and approved by the Council of Ministers, the procedures for the purchase of a drill and other equipment after Noble’s request and the transfer of Noble’s equipment from the neighbouring plot of Israel will be dodged”, Mr. Kasinis said.

“In this way, we will save money and time”, he explained.

“After the end of the year, Cyprus will start drilling so as to have a safe scientific finding on the size and quality of the natural gas. The upcoming meeting will also examine the possible transfer of natural gas before its extraction and its possible liquefaction”, he said.

He reiterated that according to estimates the size of the natural gas stock in the EEZ of Cyprus is quite big.

As for the rumours that Noble Energy seeks the involvement of Delek Energy in the exploitation procedures, Mr. Kasinis said that he is not aware of such request.

However, he said that the government could be supplied natural gas from Israel too after its liquefaction in Cyprus and this would boost the island’s position in the energy map.