Lawmakers on Tuesday sounded optimistic about ExxonMobil's recent discovery of natural gas offshore Cyprus, some opining that the find could put the island back on the energy map.
MPs were given a behind-closed-doors briefing by Energy Minister Giorgos Lakkotrypis and head of ExxonMobil Cyprus Varnavas Theodosiou.
Last week Exxon announced a gas find of 5-8 trillion cubic feet (tcf) in an offshore field inside Block 10 of the island's exclusive economic zone (EEZ). The discovery re-ignited talk of construction of a liquefied natural gas facility on the island.
"The signs are encouraging," said Diko MP Angelos Votsis. "Most importantly, ExxonMobil are here to stay, and their interest in the Cypriot EEZ remains strong."
The recent discovery boosts prospects of having an LNG plant in Cyprus, although this would take years and depended on additional gas discoveries.