IENE’s 4th Cyprus Energy Symposium Focused on the Imminent Decisions on Key Projects

The 4^thCyprus Energy Symposium, organized once again by the Institute of Energy for SE Europe (IENE - www.iene.eu) and Financial Media Way (www.fmw.cy), took place in Nicosia, on December 7-8, 2015. The Symposium has been established over the past years as a major event in Cyprus for energy policy and business and concerns all aspects of the energy sector but also covers energy market developments in the broader East Mediterranean region.

This year’s Symposium theme was appropriately entitled "A Time for Decisions”, as the government of Cyprus is now facing important challenges ahead in deciding how to proceed with plans for monetizing the recent gas finds in its EEZ. More than 25 highly qualified speakers and panelists participated in this 1^1/2day event. The President of the Republic of Cyprus Mr. Nickos Anastasiades and a host of prominent political figures including the Speaker of Parliament and the Minister for Commerce and Energy participated with key note addresses.

The proceedings of the 4^th Cyprus Energy Symposium opened on Monday, December 7, with introductory speeches by the Chairman of IENE, Mr. John Chatzivassiliadis, the Chairman of CCCI (Cyprus Chamber of Commerce and Industry), Mr. Phidias Pilides, the Chairwoman of Hellenic Bank, Ms. Irena A. Georgiadou, the President of the House of Representatives of Cyprus, Mr. Yiannakis Omirou, the Minister of Energy, Commerce, Industry and Tourism of Cyprus, Mr. Yiorgos Lakkotrypis, and by the leaders and representatives of Political Parties in the Parliament, including DISY (Democratic Rally of Cyprus), AKEL (Progressive Party of Working People), DIKO (Democratic Party), EDEK (Movement for Social Democracy), EURO.KO (European Party), Cyprus Green Party and Citizen’s Alliance. This introductory session, devoted to the position and views on energy by Cyprus’ political parties, was co-ordinated by the Deputy Chairman of IENE, Mr. Costis Stambolis.

The President of the Republic of Cyprus, Mr. Nickos Anastasiades, was the keynote speaker on the second day of the Symposium, Tuesday, December 8, who stressed that 2016 will be the year of decisions for the island’s energy sector. The CEO of FMW Financial Media Way, Mr. Iosif Iosif and the Executive Director of IENE, Mr. Costis Stambolis, addressed the President of the Republic on behalf of the organizers.

On behalf of the Minister of Environment and Energy of Greece, Mr. Panos Skourletis, who was unable to participate in the conference, the Economic Counselor by the Embassy of Greece in Cyprus conveyed the Minister’s greetings and outlined the Greek government’s position on key energy issues. The Chairman of CERA (Cyprus Energy Regulatory Authority), Dr. Andreas Poullikkas, the Chairman of EAC (Electricity Authority of Cyprus), Mr. Othon Theodoulou, the Resident Energy Advisor of the European Commission (Secretariat-General Structural Reforms Support Service - SRSS), Mr. Stephan Ressl, and the Business Development Manager of Wartsila Greece Energy Solutions, Dr. Georgios Livanos, were the speakers to follow in this session, under the co-ordination of the Media Director of FMW Financial Media Way, Ms. Christiana Koutsoulli.

The 2^nd session focused on the strategy concerning the exploitation of natural gas reserves in Cyprus and the Eastern Mediterranean. This session’s speakers included the Manager of the Cyprus Hydrocarbons Company (C.H.C) Ltd, Mr. Demetris Fessas, the Business Development Manager of Wartsila Greece Energy Solutions, Dr. Georgios Livanos, the Managing Director of Kassinis International Consulting Ltd., Mr. Solon Kassinis, the Petroleum Geologist and Energy Economist, Dr. Konstantinos Nikolaou, as well as the former Chief Executive Officer of Cyprus Natural Hydrocarbons Company Ltd, Dr. Charles Ellinas.

The operation of the electricity market in Cyprus under the new liberalized regime was the subject of the next session, with IENE’sResearch Projects Coordinator, Mr. Nicholas Sofianos as Co-ordinator. The Chairman of FOSS Research Centre for Sustainable Energy, University of Cyprus, Dr. Venizelos Efthymiou, the Energy Consultant, Mr. Andreas Theophanous, and the President of the Cyprus Business Association for the Competitive Energy Market, Mr. Pavlos Liasides, were the speakers of this session.

The fourth and final session of the 4th Cyprus Energy Symposium focused on co-generation, renewable energy sources (RES) and energy efficiency and was co-ordinated by the chairman of ΙΕΝΕ, Mr. John Chatzivassiliadis. Speakers in this session included the Director of PwC Cyprus, Mr. Michalis Stephanou, the Academic, Mechanical Engineer and Member of the Technical Chamber of Cyprus, Dr. Ioannis Michaelides, the Distribution System Operator of EAC (Electricity Authority of Cyprus), Mr. Tasos Grigoriou, the President of ISES Cyprus, Professor Despina Sergidi, and the Member of the Cyprus Wind Energy Association, Μr. Makis Ketonis.

This year’s Energy Symposium covered all latest developments in the upstream natural gas sector in Cyprus but also in neighboring Greece, Israel and Egypt, in the electricity sector, including plans for major interconnector projects. Renewable Energy Sources applications and energy efficiency projects in the building sector also featured prominently in the Symposium’s agenda. Overall, the role of Cyprus as an emerging energy hub in the East Mediterranean was hotly debated as interest is growing daily following latest gas discoveries in Egypt and acceleration of plans for the exploitation of Israel’s natural gas fields.

The Hellenic Bank was the Gold Sponsor of the 4th Cyprus Energy Symposium which was convened under the aegis of the Cyprus Chamber of Commerce and Industry (CCCI). Sponsors included Wartsila, DEPA, EKO Cyprus and the Electricity Authority of Cyprus. Supporters included Orthodoxou Group of Companies and the Cyprus Energy Regulator while the official air carrier was Blue Air. Media partners included "Phileleftheros”, ANT1 TV, Cyprus weekly and the websites nomisma.com.cy, energia.gr, philenews.com and incyprus.com.