natural gas

natural gas electricity prices

How Natural Gas Could Reduce Electricity Prices

Switching to natural gas could save Cyprus €400 million annually, reducing electricity costs by 3540%. European gas prices have dropped, but Cyprus’s delays in leveraging LNG imports have hindered potential savings, highlighting the need for resolving issues with the Vasilikos facility to secure a stable supply and transition to natural gas.

energy natural gas

Cyprus and the Future of Natural Gas in the Mediterranean

Cyprus plays a crucial role in shaping the future of natural gas in the Mediterranean through its involvement in the East Mediterranean Gas Forum (EMGF), promoting cooperation and regional market development. With discussions focusing on challenges and opportunities, Cyprus aims to transform the region into a significant natural gas hub, ensuring energy stability and security while fostering collaborative growth.

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