News Local Cyprus and Norway to sign MoU on energy issues

Cyprus and Norway to sign MoU on energy issues

Cyprus and Norway prepare to sign a Memorandum of Understanding (MoU) on energy issues, that will contain provisions for the exchange of expertise in relation to the national hydrocarbon fund (sovereign fund), among others.

As CNA learns, the MoU under discussion contains five points, concerning LNG bunkering, LNG legislation, and cross border interconnection for natural gas and electricity. Other provisions include Renewable Energy Sources and sovereign fund management.

The MoU will be signed at Ministerial level once the relevant preparation work is completed.

Also, according to diplomatic sources, Oslo recently discouraged a Norwegian energy company form entering into cooperation with TPAO, the Turkish Petroleum Corporation.

After it was approached by TPAO to cooperate over drilling issues, the company contacted Norway’s Foreign Ministry, which in turn appeared negative to the prospect of the two companies cooperating.

(Cyprus News Agency)

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