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Joint Declaration by the Ministers of Energy of Cyprus, Egypt and Greece - 25/11/2014
2014-11-25 10:13:19

The Minister of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, Mr Yiorgos Lakkotrypis, the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Mr Sherif Ismail, and the Minister of Environment, Energy and Climate Change of the Hellenic Republic, Mr Yiannis Maniatis, met today, in Nicosia, and had a substantial and results-oriented discussion on the prospects of closer cooperation between their respective Governments in the energy sector.

The meeting of the three Ministers constitutes the first follow-up trilateral Ministerial meeting between the three Governments, after the landmark Cairo Summit of November 8th, which was held at the Heads of State/Government level. In this respect, the three Ministers reiterated their countries’ common position as reflected in the trilateral summit Cairo Declaration and expressed their common desire to build on the momentum of tripartite cooperation between their respective Governments, in line with the Cairo Declaration of 8th November.

The three Ministers agreed to establish a framework for tripartite consultations, in order to facilitate dialogue and advance trilateral co-operation between them in the field of hydrocarbons for the benefit of their countries and of the wider region. They expressed their readiness to examine ways and means for the optimal development of hydrocarbons.

The Ministers had the opportunity to reiterate their shared conviction that the discovery of important hydrocarbons reserves in the Eastern Mediterranean could and must serve as a catalyst for a broader cooperation on a regional level, contributing thus to the peace and stability in the region.

In this context, the Ministers, desiring to attract investment in the field of hydrocarbons, to the benefit and prosperity of the peoples of their respective countries and recognising the possibility of environmental trans-boundary impact of hydrocarbons operations in their countries’ respective maritime zones, identified specific areas of trilateral and broader regional cooperation:
 
1) environmental standards in offshore hydrocarbons operations, 
2) methods of ensuring safety in offshore hydrocarbons operations, 
3) energy infrastructure, 
4) research and development in the hydrocarbons sector, and 
5) institutional expertise and capacity building.

They stressed that this cooperation would be better served through the adherence of the countries in the region to well established principles of international law. In this respect, they underlined their Governments’ commitment and respect to international law, including the UN Convention of the Law of the Sea, to which all three countries are State Parties.

Source: Press and Information Office

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