Financial Mirror: Benefits from hydrocarbons will be three-pronged says Cyprus Energy Ministers
Benefits from the hydrocarbons reserves discovered in Cyprus off-shore blocks will be three-pronged said Energy Minister Giorgos Lakkotripis.
Speaking to the press, Lakkotrypis said the prospects of hydrocarbon exploitation to the economy will come from three directions.
The short-term benefits will come from the hydrocarbon operating in the energy industry, the second prospects stems from exploitation of hydrocarbons reserves and the third and long-term prospect will emerge from the creation and export of a knowledge-based industry.
“What we envisioned is not to stay in oil and gas per se, but also to create a knowledge-based economy around the oil and gas industry. What we want to do in the longer term is to be able to export this knowledge because the gas might be there now the oil might be there now is not going to be there for ever,” he said speaking to a EPP youth conference in Nicosia.