The discovery of significant hydrocarbon reserves in the country’s Exclusive Economic Zone is transforming Cyprus into a future key energy player in the Eastern Mediterranean. Cyprus is enjoying worldwide attention and serious investments are on the go from energy giants, extending the energy rally into Cyprus’ EEC.
Energy will play a leading role in Cyprus’ future, offering massive investment opportunities in the coming years. The government is developing strategies, plans and alliances with the neighboring countries to exploit its multi-billion wealth, creating openings for serious investors operating in the oil and gas sector. The opportunities arising from research, production, transport, transformation and the sale of oil and natural gas are endless.
Cyprus offers security and stability in an increasingly turbulent region. The country is so much secure that it was once called as a “huge aircraft carrier” in the Mediterranean! The country’s energy developments placed Cyprus in the centre stage of the revealing discoveries in the Eastern Mediterranean. It is a convenient location for setting up various auxiliary services to support the oil and gas industry, as well as setting up company HQ’s for backing the activities in the EMEA region.
Furthermore, the island’s excellent business environment and infrastructure, combined with an unparalleled tax and legal framework, creates a very competitive and professional location for multinationals. The emerging oil and gas sector is still relatively untouched and offers a unique opportunity for investors to fulfil the country’s ambition to become an important international energy hub and an energy leader in the region.