PwC Cyprus was the main sponsor of the 4th energy summit entitled “Sustainable, competitive and secure energy Europe” organised on Monday, 14 November 2011 at Hilton Park Nicosia.

The President of the Republic of Cyprus, Mr Demetris Christofias, declared the opening of the summit and stressed the significance of the energy plan and structured strategy and assured that Cyprus can contribute to economic and social development of the entire Eastern Mediterranean, ensuring sustainable, competitive and secure energy.

During the summit which attracted industry experts and high calibre personalities from the political, academic and business world, subjects such as the economic uncertainty that Europe is currently facing, the political turbulence in the Middle East and North Africa and the battle for energy dominance were examined. Key topics addressed concern the geopolitical, economic, business and environmental dilemmas that the globe is facing.

A significant part of the conference focused on the status of energy exploration in Cyprus and the implications for the Mediterranean region. Energy security in Europe is one of the most crucial topics discussed, while distinguished speakers with valuable knowledge presented the current oil and gas prospects for the Middle East, Central Asia and the Caspian Sea.

Among the distinguished speakers, Mr Eirik Rasmussen, Director at PwC Norway and specialist in the Oil and Gas industry, presented insights on how to accelerate start up of new exploration and production companies in new regions.