Press Releases

It is my pleasure to open the ninth East Med Marine and Oil & Gas 2019 Exhibition. 

This Exhibition has become an integral event for Cyprus in terms of bringing people, companies and governments together, underscoring the importance of a common vision for the Eastern Mediterranean Marine, Oil and Gas sectors.

The Exhibition remains a keynote event in the Eastern Mediterranean exploration and development sector's calendar, providing an invaluable forum for industry, and government organisations, as well as the research community to come together and discuss the latest exploration and development opportunities and research results.

The recurrence of this event is a positive indicator for the success of this summit which has become a clear major landmark in Limassol.

The Exhibition involves a broad range of presentations and perspectives,  providing an opportunity for industry, researchers and government to network and share information and ideas.

Ladies and gentlemen,

Cyprus lies in the south-eastern end of the European Union, right in the middle of the East Mediterranean region. Given that more than 70% of the goods transported between the EU and the rest of the world is by sea, we need a top-quality shipping sector that can compete internationally, based on world-class safety records with high social and environmental standards.

Over the years, Cyprus has established itself in the global shipping community and our ship registry ranks among the top international fleets, being the third largest of the European Union. To stress the importance of this sector, the Government has recently upgraded the Department for Merchant Shipping to a Deputy Ministry of Shipping for Maritime Affairs.

The discovery of hydrocarbons in the Cyprus Exclusive Economic Zone, the offshore exploration and production of gas and oil and their transportation ashore, require specialised ships and supporting services. Cyprus has therefore the potential to develop into an important energy centre in the Mediterranean, opening up new business opportunities and widening the role and importance of our maritime cluster.

While efforts to enhance the shipping sector continue, the need to identify national energy saving planning is significant. National transport and energy policies seek to balance the competing aspects of competitiveness, security of supply and sustainability. In broad terms we need to focus both on reducing our overall use of energy through energy efficiency, and increasing the use of renewable sources of energy.  Concerning our sustainable mobility policy, we aim at driving economic development on the local level, creating employment opportunities in order to meet our transport and energy needs, while reducing the impact of climate change.  The Government is committed to the transformation required to achieve a low carbon and climate resilient future.

Oil and natural gas will however remain significant elements of the island’s energy supply in the transition period.  Indeed the International Energy Agency forecasts that oil and natural gas will remain significant elements of the world's energy supply until 2035.

In this regard, the Cyprus Government participates in vital and strategic European Projects of Common Interest on LNG infrastructure for the maritime sector: The Poseidon-Med II LNG Bunkering project, the CYnergy and the CyprusGaS2EU projects, all funded by the Connecting Europe Facility.

Let me stress that my Μinistry remains fully engaged and supportive of the Marine industry and it is indeed with great pleasure to open today’s event, which has been made possible by the continuous efforts of a great number of people all of whom deserve profuse thanks. My special thanks to this event’s organisers, the Fameline Group, a network of business organisations active across a variety of sectors, mainly maritime, industrial, and oil and gas.

We are proud to support such specialized events in Cyprus, because it is a chance to bring together specialists, experts and agencies from the marine, oil and gas sectors to exchange concrete ideas on feasible solutions to cope with challenges and achieve a better future for all.

In welcoming all participants I would like to extend a special welcome to those of you who have travelled from overseas. I hope that your stay in Limassol will be fruitful and enjoyable.

( DC )