Cyprus government is inviting Russian companies to take part in hydrocarbon development

090626-N-0696M-163 Russian military honor guard welcomes Navy Adm. Mike Mullen, chairman of the Joint Chiefs of Staff during a wreath laying ceremony at the Tomb of the Unknown Soldier, Moscow, Russia June 26, 2009. Mullen is on a three day trip to the country meeting with counterparts and touring the Russian military academy. (DoD photo by Mass Communication Specialist 1st Class Chad J. McNeeley/Released)

This can;t be making the EU poodles in Brussels too happy. Cyprus should be expecting a call from Victoria Nuland anytime now.

ITAR TASS News Agency reports:

Cyprus invites Russian companies to take part in hydrocarbons development projects within the exclusive economic zone of the country, minister of energy, trade, industry and tourism Yiorgos Lakkotrypis said on Friday in his address to participants in Cyprus-Russian Business and Investment Forum.

The forum is organized by chambers of commerce and industry of both nations with assistance of Cyprus-Russia Association of Business Cooperation and the Friendship Society. More than 200 representatives of business communities, experts, political leaders and parliament members are taking part in the event.

The recent forum is held in critical time for the Cypriot hydrocarbons sector, when preparations are under way to announce profitability of Aphrodite natural gas field and receive a program for its development, the minister said.

Cyprus can be a valuable partner for the Russian energy sector players in terms of exploring current and future opportunities for the natural gas infrastructure development and establishment, he added.


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