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Energy Regulator Studies Reform in Cyprus Electricity Market

electricity cyprusThe Cyprus Energy Regulatory Authority (CERA) has released a study for electricity market reform on the island, aiming to introduce new suppliers and reduce prices for consumers.

Households and businesses here pay the highest electricity prices in the EU and are forced to pay them due to the Electricity Authority of Cyprus monopoly.

Health Ministry Investigates Ebola in North Cyprus Reports

Health Minister Christos Patsalides said he is investigating reports that there is a case of Ebola virus in Turkish-held north Cyprus.

Maritime Dispute Between Cyprus-Turkey A Serious Issue - UN Envoy

cyprus newsThe maritime dispute between Cyprus and Turkey that resulted in the suspension of reunification talks between the Greek-and-Turkish Cypriots is a serious issue, said UN envoy Espen Barth Eide after his meeting with President Nicos Anastasiades.

"It illustrates one of the points that I have raised earlier in my presence here which is that oil and gas can be either a blessing or curse. If it is well managed it will be a source of wealth for all Cypriots, if it becomes a source of tension it will be a problem for everyone and then it will more of a curse than a solution," said Mr. Eide.

US Recognises Republic of Cyprus Sovereignty - Spokeswoman

cyprus news(Edited) The United States recognises Cyprus' sovereign right to explore for hydrocarbons in its Exclusive Economic Zone, in comments on Turkey's statement that it would send a drilling platform into Block 9 - where the ENI-KOGAS group are drilling for natural gas, said spokeswoman Jen Psaki.

Tensions have escalated over the row, and Turkey has sent two navy corvettes which are patrolling around the Famagusta coast. The Turkish corvette Bafra has repeatedly violated the three-nautical-mile limit around ENI's borehole for natural gas, which is highly dangerous for the workers on the platform, said the ministry of defence.

Energy minister George Lakkotrypis said the government is continuing as usual with its hydrocarbon development plans.

President Anastasiades Suspends Talks with Turkish Cypriots

cyprus news(Edited) President Nicos Anastasiades has postponed a leaders' meeting with Turkish-Cypriot leader Dervis Eroglu scheduled for Thursday 9th October, in the wake of Turkey's statement that it will send a drilling platform into Block 9 - where ENI-Kogas are drilling for offshore hydrocarbons. The president also announced the suspension of the talks, with the support of all political parties.

Shortly afterwards, Turkish-Cypriot leader Dervis Eroglu removed chief negotiator Kudret Ozersay from the negotiating team. Turkey and the Turkish-Cypriots have rights to the oil and gas around Cyprus, said Mr. Eroglu in comments to Millyet newspaper (in Turkish).

Jobless Number Falls in September - Survey

In September 2014, the seasonally-adjusted jobless number fell to 46,965 persons from 47,593 persons in August, said the Cyprus Statistical Service (CySTAT).

The real number of unemployed persons was 43,017 persons, said CySTAT.

Cyprus Welcomes New Saudi Arabia Ambassador Position

The government said it welcomes the new position of a Saudi Arabia ambassador to Cyprus in a neighboring country, and that King Abdullah has invited President Nicos Anastasiades to visit his country.

Cyprus also intends to establish a representative mission in Saudi Arabia, said the government spokesman.

Turkey Maritime Aggression Most Serious Since Hydrocarbons Exploration Began - Minister

cyprus newsTurkey's decision to issue a NAVTEX warning on parts of Cyprus' Exclusive Economic Zone is the most serious provocation since the EEZ was established and exploration for hydrocarbons began, said Foreign Minister Ioannis Kasoulides.

The warning is sent to ships in the Eastern Mediterranean, saying that Turkey is conducting hydrocarbon exploration around Cyprus - and is issued on an illegal basis, said the minister, who also criticised the Turkish-Cypriot leadership for participating in the intimidation of ships in the region. The NAVTEX warning was sent at 7.30pm on October 3rd, 2014. Meanwhile, Turkey said it will send a drilling platform to Block 9 - where ENI/KOGAS is drilling - to 'protect' the rights of Turkish Cypriots. Turkey has occupied Cyprus since 1974 in breach of all UN resolutions.

Revenues from hydrocarbons belongs to all Cypriots, and the Turkish Cypriots have benefited from Cyprus' EU membership as most of them receive EU identity cards and can travel freely to EU countries, said Mr. Kasoulides. The government has repeated ad nauseum that the country's fossil fuel wealth belongs to all Cypriots, said the minister.

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