The government of Cyprus approved the creation of a new company to handle sales of recently discovered natural-gas reserves, Bloomberg reports quoting Commerce Minister Neoklis Sylikiotis as saying. The Cyprus Hydrocarbons State Company will be run as a private entity, Sylikiotis said today, according to a transcript of his comments on the Ministry's website. Revenue from the company will be directed to a special fund for hydrocarbon infrastructure investment as well as to the state budget and a savings plan for future generations, he said. The government also commissioned the Massachusetts Institute of Technology to prepare a report on integrating Cypriot hydrocarbon reserves into the national energy system. The study, in addition, will focus on the commercialization and distribution of hydrocarbons to European and international markets, infrastructure issues and possible cooperation with other countries in the southeastern Mediterranean, Sylikiotis said.
GMT 13:29 2018 Monday ,01 January
Serbia launches probe after toxic waste dumped near BelgradeGMT 19:03 2017 Thursday ,28 December
Pregnant elephant 'poisoned' in Indonesian palm plantationGMT 16:26 2017 Sunday ,24 December
Nepal's two last known dancing bears rescued: officialsGMT 10:51 2017 Sunday ,24 December
Florida orange industry hit by hurricane, diseaseGMT 09:09 2017 Sunday ,24 December
Modern-day amber 'Klondikes' thrive in troubled UkraineGMT 19:23 2017 Saturday ,23 December
Indonesian pangolin faces extinction due to traffickingGMT 11:37 2017 Friday ,22 December
Global warming may boost asylum-seekers in Europe: studyGMT 07:32 2017 Friday ,22 December
Modern-day Mowgli: Indian toddler forges bond with monkeys
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor