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Cyprus News Agency: News in English, 11-01-18

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From: The Cyprus News Agency at <>




    Cyprus House President Marios Garoyian laid on Tuesday the foundation stone for the construction of an oil import and distribution terminal in the Vassiliko industrial area, at the island`s southern coast by VTTI, a wholly owned subsidiary of Vitol Group and MSC Berhard, due for completion in the second half of 2012.

    According to a press release issued by the company, in the first phase the private terminal will have 345,000 cubic metres of storage for gasoline, gas oil, jet fuel and fuel oil, at an initial investment of 100 million euro.

    Apart from serving as a regional trading hub, the terminal will be able to supply the domestic market in Cyprus with truck access to a loading rack. There are also plans for expanding the storage to 550.000 cubic metres at a cost of more than 200 millions.

    With 19 tanks and a maximum draft of 17 metres, the terminal will be built to world class standards, with the opportunity to expand the storage in the future.

    Addressing the ceremony, Rob Nijst, VVTI`s CEO expressed satisfaction for the commencement of the construction works.

    ``While global trading conditions remain challenging, a world class terminal built and operated in a professional way, will provide jobs and potential for long term investment,`` he added.

    Nijst noted that ``the terminal will play an important part in supplying regional markets to meet growing energy demand, as well as supplying the local market in Cyprus.``


    The British government has reiterated its commitment to a solution in Cyprus based on a bizonal, bicommunal federation, noting that it is not interested in arguments about the partition of the island.

    Our commitment is to a bi-zonal bi-communal Cyprus. We are not interested in arguments about partition. I make that absolutely clear, said British Minister of State Lord Howell before the House of Lords.

    He added that the British government is fully supportive of UN efforts to achieve a settlement in Cyprus based on the bi-zonal concept with political equality as defined by the relevant Security Council resolutions.

    Commending the leaders of the two communities in Cyprus, President of Cyprus Demetris Christofias and Turkish Cypriot leader Dervis Eroglu for the progress they have made so far at the UN led Cyprus talks, he said that we are seeking to do everything we can with our EU partners to upgrade the welfare position of the Turkish Cypriot people so that they are prepared, I hope, for the day when we can have the solution that we all want to see.


    Cyprus` final decision on the natural gas will take into consideration all developments in the region as well as the possible natural gas reserves in the island`s territorial waters, Minister of Commerce, Industry and Tourism Antonis Paschalides said on Tuesday.

    Paschalides chaired a meeting with representatives of the Natural Gas Public Company (DEFA), the leadership of Cyprus Electricity Authority, the Cyprus Energy Regulating Authority, the Ministry`s Energy Service and the Ministry`s Permanent Secretary to review the latest developments on the issue.

    Cyprus is very close to announcing its strategic supplier of natural gas to be used as the main means of power generation. According to the current planning, Natural Gas will be imported in the form of Liquefied Natural Gas (LNG) stored and de-liquefied in the terminal in Vasiliko at southern coast of Cyprus.

    In statements after the meeting, Paschalides said he requested reports from all services involved which the government will take into account before taking its final decision.

    Responding to questions, Paschalides clarified that the current process does not rule out a possible cooperation with Israel or the incorporation of the natural gas reserves believed to exist in Cyprus` Exclusive Economic Zone (EEZ).


    The Flight Safety Foundation / South east Europe-Middle East- Cyprus (FSF-SEC) has negotiated and agreed a Memorandum of Cooperation(MOC) with the ``Russian International Flight Safety Foundation `` in the context of its objectives to expand its international cooperation and contribute more effectively to improve the field of flight safety in Cyprus and in the region.

    According to a relevant announcement, the Memorandum provides, inter alia, for joint seminars, cooperation in the field of education on safety issues and exchange of information and publications.

    The Memorandum of Cooperation will be signed in the framework of an International Conference on flight safety, to be organized in Nicosia on 27-28 April 2011, in which top officials from the international and European civil aviation will also participate.

    President of the Republic will also attend the signing ceremony of Memorandum which is something that shows the importance of cooperation between Cyprus and Russia in the field of aviation safety and aviation in general.

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