articles | 25 October 2014

Hydrocarbons can alter energy potential in Cyprus

The Eastern Mediterranean region is currently undergoing changes to its energy landscape and the recent discoveries of large hydrocarbon resources have the potential to drastically alter energy supplies and potential in Cyprus, said the Minister of Communications.

At a lecture at the Cyprus Institute of the Future Energy, Communications and Works Minister Marios Demetriades said, as there are several issues Cyprus is facing that could significantly affect how quickly and how successfully such change will occur. “Our energy policy includes the implementation of development programs related to the use of energy conservation technologies and the utilization of Renewable Energy Resources,” he noted.

It is crystal clear, he added, that certain questions regarding the future role of energy in our world need to be addressed. “What does the future hold for energy? How can we keep supplying energy to an ever-growing population? What impact will the energy choices we make have on our living conditions and our planet? While the future is uncertain, what’s clear is that the world will need a range of energy solutions, including renewable energy resources and other innovative approaches”, he said.

The Minister said that the Cyprus Institute, recognizing the importance of renewable energy resources and especially solar power as one of the most promising paths towards sustainable development for EU, Cyprus and the region, has launched a research division in this fast growing field, which seeks technological solutions for the exploitation of solar energy, tailored-made for the Cypriot and regional environment.

Research and innovation, he stressed, are key drivers for sustainable growth and prosperity, both in Cyprus and the region and it is internationally recognized that investing in research and technological development, fostering innovation and knowledge transfer, are key parameters towards increasing the competitiveness in a globalized economy.

“These pillars are of course central in our government’s program for growth and development. Science and technology are key components for restarting our economy and secure its sustainable future operation. Sustainable development based on research and innovation will create jobs and significantly contribute to the social welfare”, he concluded.

Source: Famagusta Gazette

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