Cyprus is one of the most energy-deprived countries in the world when it comes to fossil fuels. Despite the discovery of significant natural gas reserves, the island state is still importing most of its energy. Although the growing use of renewables is decreasing the need for imports, the majority of the country’s electricity is still produced in power plants running on petroleum and diesel. Cyprus Energy The gas bonanza in the Eastern Mediterranean is a boon for the region’s littoral states. Cairo and Tel Aviv have been able to move quickly and start production at their respective gas fields, which is improving energy security and earning money from exports. Egypt already possessed a sizeable energy infrastructure due to previous discoveries. Israel’s favorable business climate attracted capable energy companies to get the job done. Cyprus, however, has to deal with technical and security related issues that impede a quick development […]