EU energy ministers meet in Nicosia to discuss energy security and transition

The informal meeting of EU energy ministers, chaired by Cypriot Minister of Energy, Commerce and Industry Michalis Damianou, took place in Nicosia on Wednesday. The session focused on strengthening the EU’s energy union amid ongoing geopolitical volatility, including the conflict in the Middle East. Discussions addressed strategies for energy storage, the AccelerateEU initiative, and the future role of natural gas beyond 2030. Minister Damianou emphasized the potential of domestic gas resources in Cyprus, Greece, Romania, and Poland to supplement EU energy security. Energy Commissioner Dan Jørgensen stressed the urgent need to accelerate the transition away from fossil fuels, though he declined to confirm if the Commission would facilitate large-scale gas extraction. Regarding the Aphrodite gas field, Damianou stated that Chevron is proceeding with the FEED study expected by January 2027, with a final investment decision to follow within six months. The minister noted that exports from the Aphrodite field are currently planned for 2030 or 2031, while development of the Cronos field is also underway.