Daily News Egypt (Photo credit: Wikipedia)
This is excellent news for Cyprus!
via 700m cubic feet of gas to be imported daily from Cyprus by 2017: EGAS – Daily News Egypt.
This seems to be a major breakthrough which will benefit both Cyprus and Egypt but it’s still early days. Nevertheless, Cyprus now has considerable upside potential for growth. The commercialization of Cyprus’ offshore gas will further please Cyprus’ creditors who are already delighted at the turnaround to date.
Summer has arrived in Cyprus and the sunshine and weak Euro seems to be attracting large numbers of tourists. Also a number of big international investors are looking for suitable investments in Cyprus.