Cyprus President Nikos Christodoulides met on Thursday with ExxonMobil\u2019s Vice President of Global Exploration John Ardill, who came to the meeting in New York bearing what he called \u201cvery good news:\u201d Initial drilling results in Cyprus\u2019 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.<\/p>\n
Christodoulides welcomed the findings, calling ExxonMobil\u2019s presence in Cyprus \u201ca vote of confidence\u201d and pressing for faster steps toward extraction. \u201cOur cooperation is excellent and always based on honesty,\u201d he said, while government spokesman Konstantinos Letymbiotis emphasized that the ultimate goal is not just exports but easing energy costs for Cypriots.<\/p>\n
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.<\/p>\n
For now, ExxonMobil has promised to move quickly on next steps, with timetables to follow. The discovery adds to Cyprus\u2019 leverage in a region where energy, security and diplomacy are increasingly intertwined.<\/p>\n<\/p><\/div>\n
<\/p>\n<\/div>\n