[File photo]
Cyprus President Nikos Christodoulides met on Thursday with ExxonMobil’s Vice President of Global Exploration John Ardill, who came to the meeting in New York bearing what he called “very good news:” Initial drilling results in Cyprus’ exclusive economic zone suggest that the Pegasus and Glafkos gas fields together could hold between 8 and 9 trillion cubic feet of natural gas, a potentially game-changing amount for a small island nation.
Christodoulides welcomed the findings, calling ExxonMobil’s presence in Cyprus “a vote of confidence” and pressing for faster steps toward extraction. “Our cooperation is excellent and always based on honesty,” he said, while government spokesman Konstantinos Letymbiotis emphasized that the ultimate goal is not just exports but easing energy costs for Cypriots.
Minister of Energy, Trade and Industry Giorgos Papanastasiou said on Friday there is a quantity of natural gas in the Cypriot EEZ that has to be commercialized.
For now, ExxonMobil has promised to move quickly on next steps, with timetables to follow. The discovery adds to Cyprus’ leverage in a region where energy, security and diplomacy are increasingly intertwined.
