The positive results from possible discovery of natural gas in Cyprus’ exclusive economic zone will be immediate, despite the fact that reserves will not be exploited for another few years, Minister of Commerce, Industry and Tourism Praxoula Antoniadou has said.

In an interview with CNA, Antoniadou expressed optimism for the future of the Cypriot economy.

“The Cypriot economy has demonstrated it can withstand a lot”, she said, adding that “if in a couple of weeks we are lucky enough and hydrocarbon deposits are discovered within our Exclusive Economic Zone (EEZ), then despite the fact that about three years will need to pass before deposits are actually used, the interest of foreign investors will be obvious from day one”.

“We will witness the first positive results of this new prospect immediately”, she pointed out.

Asked whether cooperation with Israel on joint projects for a sub-sea pipeline or a liquefied natural gas plant have been discussed between the two countries, Antoniadou said that some views were exchanged with the Israeli Minister of Infrastructure, adding however that discussions on eventual cooperation are at a purely preliminary level.