Cyprus Hydrocarbons Company: Plans for offshore energy ecosystem

The Chairwoman of the Cyprus Hydrocarbons Company (CHC), Toula Onoufriou, presented a comprehensive roadmap for the development of an integrated offshore energy ecosystem, during the Eastern Mediterranean Energy Conference taking place in Limassol.

The strategic plan encompasses the Near Term, Mid Term, and Long Term aspirations of CHC, aiming to position Cyprus as a key player in sustainable and competitive energy solutions.

Over the next five years, CHC will concentrate on advancing natural gas exploration and development projects. Simultaneously, the company will assess opportunities and challenges through the lens of the ongoing energy transition.

In the mid-term horizon, in a period up to ten years from now, CHC envisions sustainable and competitive offshore natural gas production. Initial pilot projects will serve as testbeds for offshore renewable energy applications.

CHC's long-term vision, regarding ten years and beyond extends to the establishment of an offshore integrated energy ecosystem. This ambitious goal involves combining conventional and sustainable hydrocarbons, offshore wind and solar projects, electricity interconnectors, CO2 storage applications, and both Green and Blue offshore hydrogen initiatives.

She also explained that Cyprus was making tentative steps to review its own potential for Offshore Renewables and Offshore CO2 storage, and CHC has been involved in initial studies and data gathering. Initial studies on offshore wind farm locations have identified Episkopi Bay as a promising site, while CO2 storage assessments involve collaboration with various governmental departments and environmental organisations.

Onoufriou highlighted CHC active engagement in various projects aimed at supporting the development and implementation of enabling technologies that will help Cyprus move towards an effective energy ecosystem with all its components working in an integrated and beneficial way for the country

She also said she expected that the role of technology will have a significant and enabling impact, in the development of sustainable offshore and marine energy infrastructure, and that Cyprus has a lot to contribute, as well as benefit from this.

Marios Menelaou, General Manager, Natural Gas Public Company DEFA said that the company’s vision was to implement Cyprus goal for environmentally sustainable and economically advantageous development, through the supply of LNG and Natural Gas, having the leading role in the green transition of the Republic of Cyprus and the promotion of the security of energy supply.

Menelaou presented a video that showed the progress done in Vasiliko site as well as the conversion of the LNG carrier “Etyfa Promitheas” which has already been converted to FSRU (Floating Storage Regasification Unit). As he said, it is by 98% completed and it is still at a shipyard in Shanghai. It will sail to Cyprus in the following months.

Fabrizio Botta, Chief Commercial Officer of Saipem said Cyprus' plan to be an energy hub and to enter into real projects was quite interesting.

“This is giving us more power to seek new opportunities in the country to support the main companies, international and local contractors to finalise this kind of dreams into reality in the coming months,” he said.

(Source & Photo: CNA)