Minister of Commerce, Industry and Tourism, Giorgos Lakkotrypis analyzed on Tuesday the roadmap relating to developments in the extraction and exploitation of natural gas, within the framework of a meeting at the Presidential Palace.

Asked about the outcome of this meeting at the Presidential Palace, deputy government spokesman Victor Papadopoulos said "an intra-meeting was held this morning, chaired by President of the Republic, during which the Commerce Minister analyzed his fellow ministers the roadmap on the developments in the extraction and exploitation of natural gas”.

"There was a detailed account of what remains to be done, which path will be followed by the Republic of Cyprus, which stages, and when we anticipate a successful outcome to use our own gas and to exploit it commercially," he said.

Invited to say whether certain timetables have been set, Mr. Papadopoulos said that "the exploitation of natural gas is placed around 2020”.

On the question about the terminal, Mr. Papadopoulos said "this is a process that has not yet started”.

Asked about the revenue from the exploitation of natural gas per annum, Mr. Papadopoulos said that "these are things we will see along the way, when we are unsure of the total amount of gas reserves and quality."

"The second confirmatory drilling at block 12 is underway. It is premature to make calculations and to talk about numbers, without yet having the final data”.