CYPGasTech 2014 exhibitor e-directory CYPGasTech 2014, Limassol, Cyprus - Page 10

Contact details: Ministry of Energy, Commerce, Industry & Tourism 6 Andreas Araouzos str., 1421 Nicosia, Cyprus W: www.mcit.gov.cy Dr Stelios Nicolaides Acting Director Hydrocarbons Service T: +357 22 409310 E: hydrocarbons@mcit.gov.cy Hydrocarbons Service One of the main tasks of the Hydrocarbons Service is monitoring the offshore activities and the infrastructure required, including the Energy Centre at the Vasilliko area and in particular those relating to the creation of a Liquefied Natural Gas Plant, with a view to sale gas to international markets. In addition, the Hydrocarbons Service is monitoring closely the implementation of the Exploration and Production Sharing Contracts with the licensed companies, in order to safeguard the interests and maximize the benefit to the government. The major objectives of the Hydrocarbons Service are the following: The hydrocarbons operations shall focus on ensuring a reasonable and sustainable exploitation of the hydrocarbons resources in order to maximize the state revenues from the natural resources at a long term period for the benefit of Cyprus and its future generations. ● The contribution of the new emerging oil and gas industry in Cyprus to the creation of new jobs throughout the entire industry chain, thereby boosting the economic recovery of the country, helping further transform Cyprus into a knowledge-based economy. ● Being a full Member State of the European Union, Cyprus aims at utilizing its hydrocarbon resources and building the necessary infrastructures for enhancing the security of energy supply of the European Union. ● Contribute towards the transformation of the eastern Mediterranean region into an area of sustainable and balanced economic development by enhancing political stability and improving bilateral relationships building on synergies emerging from the exploitation of hydrocarbons in the region. ● Transform Cyprus into an energy centre in the eastern Mediterranean region. ●