Cyprus has important energy plans. A big project to import gas faces problems. Plans to export gas also have difficulties. Geopolitics and money issues are complex. The year 2025 will be busy. Investigations by the EPPO are concerning the gas terminal and a new power cable. Developing gas fields must also deal with changing markets.
The Vasilikos gas terminal is meant to help Cyprus with energy. It is now being investigated for fraud. This makes the project's future uncertain. The finance minister is also unsure about the power cable project. This cable is supported by others. The Kronos gas field is developing well. It will produce about five billion cubic meters of gas each year. Egypt's minister wants to help export this gas to Europe. The gas could be sent to Europe from Egypt's liquefaction plant.
However, making a lot of money from these energy projects is hard. The Aphrodite gas project has unresolved problems. There is a long dispute with Israel about the gas. Also, the Aphrodite project needs Egypt to pay more for gas. This is a difficult point. Prices for gas in Europe are expected to fall. This is because there is more gas available globally. Prices might be between $6 and $7 per mmBTU. There may also be fees for using Egyptian facilities.
This is important for Cyprus. Exporting gas would be a big step. But profits are expected to be small at first. Big profits may not come until after 2030. Government income will be low for now. A new electricity market started recently. It aims for more competition. However, some worry that renewable energy companies might still make high profits. A new study on the power cable project will start in 2026. Israel might join this project then. But the EPPO investigations are the biggest worry for the gas terminal and the power cable.