Category: Cyprus News Agency

Cyprus’ Minister of Foreign Affairs, Constantinos Kombos, discussed current regional issues, bilateral relations and the Cyprus issue with UK’s Minister of State for Europe, Steven Doughty, describing their exchange as “constructive”.

According to his post on X, Kombos and Doughty discussed current regional issues, and ways to further strengthening bilateral relations between Cyprus and the UK, “building on our long-standing partnership.”

The Foreign Minister also said that he updated Minister Doughty on the latest developments regarding the Cyprus issue.

The European Commission on Tuesday published its annual reports on the implementation of the Green Line Regulation and the Aid Programme for the Turkish Cypriot community, reaffirming the EU’s unwavering support for the reunification of Cyprus by strengthening intercommunal ties and promoting targeted socio-economic development.

According to the Commission, the 2025 Green Line Report recorded a historic high of 7.79 million authorised crossings, highlighting the growing links between the Greek Cypriot and Turkish Cypriot communities. At the same time, irregular crossings continued their downward trend, falling to 2,433. To further facilitate movement, the EU funded expansion works at the Agios Dometios crossing point, increasing capacity at one of the island’s busiest checkpoints.

The 2025 Aid Programme Report outlined ongoing efforts to support the reunification of Cyprus by fostering the socio-economic development of the Turkish Cypriot community, building trust, and strengthening civil society. With pound 33.7 million allocated in 2025, the programme continued to improve food safety and animal welfare standards, including through emergency measures to address the foot-and-mouth disease outbreak in December 2025. In addition, EU-funded investments in water supply and wastewater infrastructure, energy efficiency, air quality, and noise monitoring continued to improve living standards in the Turkish Cypriot community and across the island.

The Commission’s report also noted that 142 Turkish Cypriots studied at universities across the EU, while 18 students from both communities enrolled in United World Colleges. Finally, under the ninth Cyprus Civil Society in Action grant scheme, 16 grants worth pound 2.22 million were awarded to projects focusing on environmental protection, sustainable development, reconciliation, confidence-building, and civil society participation in the settlement process.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

The loan portfolio of the Credit Servicers (CSs) and Credit Acquiring Companies (CACs) in Cyprus increased by pound 256 million at the end of March 2026, compared to the end of 2025, according to data published on Tuesday by the Central Bank.

Specifically, on March 31, 2026, the contractual balance of all loans under management outside the banking system amounted to pound 19,607 million, an increase of 1.3% compared to December 31, 2025, which was pound 19,351 million.

The increase is mainly attributed to the rise in household loans (by pound 131 million) and non-financial corporations (by pound 118 million).

According to the data published by the CBC, of the loans worth pound 9,667 million belonging to households, pound 662 million are performing and pound 9,005 billion are non-performing. These loans concern a total of 55,044 households.

Similarly, of the loans worth pound 9,236 million belonging to non-financial corporations, pound 403 million are performing and pound 8,833 million are non-performing. These loans concern a total of 9,261 non-financial corporations.

Both households and non-financial corporations recorded an increase in non-performing loans compared to December and a decrease in performing loans.

In contrast, in the category of other financial corporations, performing loans increased to pound 15 million from pound 6 million, and non-performing loans decreased to pound 689 million from pound 691 million. This category of loans concerns 76 other financial corporations.

According to the CBC, for the loans with a contractual balance of pound 19,607 million, the net book value was pound 2,843 million as of March 31.

As noted by the CBC, the net book value is the value of a loan as recorded in the accounting books (balance sheet) of Credit Acquiring Companies (CACs), adjusted to reflect any revisions to estimates of future cash flows and impairments. On the other hand, the contractual balance represents the capital amount owed by the borrower under the loan agreement, irrespective of expected recoveries, provisions, or the purchase price of the portfolio, and includes accrued interest.

European Commission President Ursula von der Leyen thanked in her social media post the President of the Republic of Cyprus, Nikos Christodoulides, noting that ‘the Cyprus Presidency was a real success.’

In her post, which was accompanied by a video featuring footage from their joint meetings over the past six months, she continued by addressing the Cypriot President, saying ‘you drove forward our EU agenda, from competitiveness to enlargement. Abroad, you built bridges with our partners in the Middle East at a crucial moment.’

June 30 marks the end of Cyprus’s Presidency of the Council of the European Union, with Ireland taking over the role tomorrow, Wednesday. The handover ceremony will take place in Dublin, in the presence of both the President of the European Commission and the President of the European Council, António Costa.

Poultry eggs for hatching amounted to 1,681,350 in May 2026, which are placed in incubation for meat production, marking an increase of 4.8% compared with May 2025, according to data published on Monday by the Cyprus Statistical Service.

As for poultry eggs for hatching placed in incubation for egg production, these reached 104,900, showing a large increase of 30.6% compared with last May, when they amounted to 80,320.

Meanwhile, the use of female chicks for egg production amounted to 25,350 in May 2026, recording a large decrease of 56.0% compared with last May.

The number of male and female chicks for fattening reached 1,190,930, showing a decrease of 5.2% compared with May 2025.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (B)

FOR THE PERIOD FROM 1200 30/06/2026 UNTIL 1200 01/07/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1009hPa (hectopascal)

Seasonal low pressure is affecting the area. The weather will be mainly fine, but later tonight and during dawn locally increased low cloud coverage is possible.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Afternoon West to Northwest 3 to 4, locally 4 to 5 Slight

Night West to Northwest 3 to 4 Slight

Morning West to Northwest 3 to 4, soon 4 Slight

South Coast

Afternoon Southwest to West 3 to 4, locally 4 to 5 Slight

Night Southwest to Northwest 3 to 4, locally near the coast Variable 3 Slight

Morning South to Southwest 3 to 4, soon Southwest to West 4 Slight

East Coast

Afternoon South to Southwest 3 to 4, locally 4 Smooth to Slight

Night Southwest to Northwest 3 Smooth to Slight

Morning South to Southwest 3, soon 3 to 4 Smooth to Slight

North Coast

Afternoon Southwest to West 3 to 4, locally 4 to 5 Slight

Night South to Southwest 3 to 4, locally near the coast Southeast to Southwest 3 Slight

Morning South to Southwest 3, soon 3 to 4 Slight

The Council of the European Union and the European Parliament on Tuesday reached a provisional agreement on targeted amendments to the Eurovignette Directive, aimed at strengthening legal certainty and ensuring the harmonised application of the rules governing road tolls and user charges for heavy-duty vehicles, ahead of the entry into force of the new CO2 emission standards on 1 July 2026.

According to a Council statement, the amendments clarify how the Directive’s rules apply to different categories of heavy-duty vehicles and CO2 emission classes, providing greater legal certainty for road haulage operators, national authorities and toll service providers.

In a statement included in the announcement, Minister of Transport, Communications and Works Alexis Vafeades said that the agreement provides the legal certainty needed by transport operators, tolling authorities and service providers in view of the implementation of the new CO2 emission standards for heavy-duty vehicles. He added that the clarifications introduced by the Directive will contribute to a smoother and more harmonised application of the rules across the European Union.

He further noted that, over the past six months, the Cyprus Presidency had delivered tangible results towards creating a European transport network that is more competitive, more resilient and more sustainable for the future.

According to the Council, the provisional agreement clarifies key definitions relating to CO2 emissions, including those concerning zero-emission and low-emission vehicles, vehicle groups, emission reduction trajectories, and reference CO2 emissions.

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (C)

FOR THE PERIOD FROM 1800 30/06/2026 UNTIL 1800 01/07/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1006hPa (hectopascal)

Seasonal low pressure is affecting the area. The weather will be mainly fine, but later tonight and during dawn locally increased low cloud coverage is possible.

Visibility: Good

Sea surface temperature: 26°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Night West to Northwest 3 to 4 Slight

Morning West to Northwest 3 to 4, soon 4 Slight

Afternoon West to Northwest 4 to 5, locally 5 Slight, locally Slight to Moderate

South Coast

Night Southwest to Northwest 3 to 4, locally near the coast Variable 3 Slight

Morning South to Southwest 3 to 4, soon Southwest to West 4 Slight

Afternoon Southwest to West 4 to 5, locally 5 to 6 Slight, locally Slight to Moderate

East Coast

Night Southwest to Northwest 3 Smooth to Slight

Morning South to Southwest 3, soon 3 to 4 Smooth to Slight

Afternoon South to Southwest 4, locally 4 to 5 Smooth to Slight, locally Slight

North Coast

Night South to Southwest 3 to 4, locally near the coast Southeast to Southwest 3 Slight

Morning South to Southwest 3, soon 3 to 4 Slight

Afternoon Southwest to West 4 to 5, locally 5 Slight, locally Slight to Moderate

The Republic of Cyprus, ExxonMobil and QatarEnergy signed on Tuesday a declaration of commercial discovery for Glaucus and Pegasus gas discoveries and a continued collaboration statement, with President Nikos Christodoulides speaking of “a milestone of strategic importance” and Energy Minister Michael Damianos pointing out that it further strengthens Cyprus’ position on the regional energy map and offers new impetus to the Eastern Mediterranean’s growing role as an emerging energy hub.

Earlier President Christodoulides had received ExxonMobil and QatarEnergy executives at the Presidential Palace.

Addressing the signing ceremony which followed Damianos said that Exxon’s interest in Blocks 4 and 10A is another strong vote of confidence in Cyprus’ energy programme and the country’s credibility as a reliable energy partner.

ExxonMobil’s Vice President for Exploration and New Ventures, John Ardill, said that the company anticipates the final investment decision for Glaucus and Pegasus to occur in 2029 and the production startup in 2033.

In regard to the broader exploration in Block 4 and 10A, he said that the first thing will be to reprocess some existing seismic data to improve the image and then that will help inform the prospect inventory and potential path to drilling, ‘but we have more work to do before we will be ready to drill on those blocks’.

In his speech, Damianos said that the signing of this declaration is an important milestone for offshore exploration in Cyprus’ Exclusive Economic Zone, reaffirming both its significant potential and shared commitment to the responsible development of the natural gas resources in Block 10.

Welcoming, ExxonMobil’s Vice President for Exploration and New Ventures, John Ardill, the Head of ExxonMobil Global LNG, Peter Clarke, and QatarEnergy’s Manager for International Upstream and Exploration, Ali Abdulla Al-Mana, the Minister thanked them for the productive meeting and constructive exchange of views they had earlier with the President of the Republic, and expressed deep appreciation for the strong partnership that has been built over the years.

‘The Glaucus and Pegasus discoveries represent two of the most significant achievements of Cyprus’ offshore exploration programme. Today’s declaration of commercial discovery marks the transition to the next phase of their development, bringing us closer to unlocking these valuable resources. At the same time, it further strengthens Cyprus’ position on the regional energy map and offers new impetus to the Eastern Mediterranean’s growing role as an emerging energy hub’, continued the Minister.

He added the government is equally encouraged by the consortium’s interest in pursuing additional exploration opportunities within the country’s EEZ. ‘The interest expressed in Blocks 4 and 10A is another strong vote of confidence in Cyprus’ energy programme, our country’s credibility as a reliable energy partner, and the prospects for expanding our successful cooperation’, he stressed.

‘Looking ahead, we remain committed to working closely together in the same spirit of trust, transparency and effectiveness that has brought us to this point. I am confident that our partnership will continue to deliver results that benefit not only the Republic of Cyprus and our licensees, but also the broader region’, he concluded.

For his part Ardill said that this is a very important day today for Cyprus and Exxon’s investment in energy.

‘This has been the culmination of eight years of work since we were awarded the blocks in 2017, discovery in 2019, second discovery last year, so with that under our belt, it is now the second point. It is very important to recognise that exploration success and this declaration of commerciality milestone. That really takes us from looking for energy to developing energy, which is a fundamentally different step, and we have the full team here that’s going to help implement that’, he continued.

He added that the concept of a European energy hub is realised when the molecules start flowing, ‘and that’s what we are here to initiate today, so a very historic point’.

On next steps, Exxon’s Vice President said that the company has been successful in block 10 and it wants to expand that.

‘We are present in Cyprus, Egypt and Greece, drilling in all three, so looking ahead in the near term, we will be drilling again in Cyprus at the end of this year on the Pegasus appraisal programme. As the minister mentioned, we will expand the exploration acreage footprint to include block 4 and block 10A and continue to look for additional resources’, he explained.

‘Being able to work together to put infrastructure in the ground for block 10 enables additional molecules to be developed and that is really the start of unlocking Cyprus’s gas development and getting those molecules flowing for Cyprus. This is a hugely important day for all of us, very hard work to get here. Delighted to be here today and this important point, moment in time for ExxonMobil. We are extremely proud of this milestone along with our very strong partnership with Qatar Energy. We are delighted to be here and to share in this important day’, he concluded.

Asked after the signing ceremony about the different scenarios Exxon is exploring, Ardill said that it is great to discover gas, adding it takes longer to develop than most people think.

‘We discovered Glaucus in 2019, Pegasus last year and we have been doing appraisal drilling to understand the subsurface and that is enabling us now with sufficient confidence to go towards a declaration of commerciality. A very important milestone, working very closely with the government, with the support of the Minister and the President and to move through this important milestone’, he continued.

‘That takes us then on a journey, some additional drilling at the end of this year to get that last piece of information. Then we will go into what is called front-end engineering and design feed, where we design the facility, and then the next step is final investment decision, we anticipate that will occur in 2029, and that is on a critical path to do the subsurface modelling, the engineering work and then make the investment decision and build the facility and we anticipate production startup in 2033’, he further noted, adding that when laying out these schedules, there is always an effort to do better than that, ‘so we have committed to 2033 but we hope we can move faster’.

Asked if an onshore facility is being contemplated or will gas be channelled to Egypt, Exxon’s Vice President said that right now they have the subsurface fields.

‘What we do is a concept challenge, we look at all the different ways we could develop these molecules and the different concepts are a facility in Cyprus with a pipeline tie back to Egypt. and there is existing liquefied natural gas facilities, there are LNG facilities that we can utilise. An alternative concept is floating LNG where we do everything on a floating vessel, typically more challenging from a cost standpoint’, he explained.

‘Then if you have a very large resource, you can build onshore LNG trains like there are in Qatar today but that is a bigger resource than we have found to date here. So the leading concept is probably a pipeline tie back to Egypt given the infrastructure and everything you have seen between the government of Cyprus and the government of Egypt gives us a lot of confidence that there is good government-to-government coordination, the agreements in place to leverage that eastern Mediterranean energy hub concept’, he added.

Asked when drilling will start in Block 4 or 10A, Exxon’s senior executive said that they have a rig under contract now. ‘We anticipate rig delivery around the end of the year, maybe December and that is subject to the rig being freed up from existing work. The first drilling will occur on Block 10 where we have wells that we are designing right now and permitting and that’s key to gather that additional information on Pegasus which is a critical path to do the subsurface modelling. So that’s the first thing we’ll do’, he then said.

In regard to the broader exploration in Block 4 and 10A, he said that the first thing will be to reprocess some existing seismic data to improve the image and then that will help inform the prospect inventory and potential path to drilling, ‘but we have more work to do before we will be ready to drill on those blocks’.

‘We have been working very diligently together between government and investor to make these discoveries and we are working very diligently to get the gas flowing for the people of Cyprus. This is both a revenue stream and energy security and that is extremely important’, he stressed, reiterating that 2033 will be when gas molecules should be flowing and that energy security will be realised.

In his statements, Damianos said that the final investment decision (FID) for the Kronos field is moving forward, as are the Aphrodite field and Exxon’s blocks.

‘The next stage will be another licensing round, possibly within the next one to two years, during which decisions will be made once we have completed the projects we have initiated during this period,’ he added.

Talks with Israel at “very advanced stage”

Asked if there were any recent developments regarding the ‘Aphrodite’ field, the Minister said that the project is proceeding according to schedule. ‘We’re moving forward with the FID around December-January, and the final investment decision will be made within six to twelve months, by 2027,’ he noted.

Asked whether negotiations with Israel would resume now that the dispute over the Ishai field is coming to an end, Damianos said that the negotiations are at a very advanced stage.

‘We had a productive meeting yesterday at the Ministry here in Nicosia, where important commercial terms were agreed upon; some legal issues remain, so we are moving forward by resolving several of the outstanding issues, and we hope to finalize the deal in the near future,’ he concluded.

Cyprus enters new phase in natural gas resources development, President says

Receiving the ExxonMobil and Qatar Energy delegation earlier today at the Presidential Palace, the President of the Republic, Nikos Christodoulides, said that ‘we are excited about today’s announcements, they are clear proof and a vote of confidence in the prospects of Cyprus’s EEZ, as well as in the prospects of the Eastern Mediterranean developing into a potential energy corridor for Europe. We look forward to even more positive announcements in the near future’.

He added they would be specifically discussing additional blocks, and expressed the hope they would be soon be in a position to make announcements.

‘For us, the fact that ExxonMobil and Qatar Petroleum are operating in our EEZ is one of the most significant developments, and I must publicly commend your work, your professionalism, and your leadership in the energy sector; we are very happy and excited to be working with you’, he noted

For his part, ExxonMobil Vice President noted that it had been a long journey for the company since 2017, pointing out that results are never a given, yet here they have discovered two deposits, which is wonderful for Cyprus, as he said, noting that the next challenge is to develop the fields. ‘The project was very successful for everyone involved’, he added.

In a post on X following the signing ceremony, President Christodoulides, said that Cyprus country is entering a new phase in the development of its natural gas resources within the Exclusive Economic Zone of the Republic of Cyprus.

‘Today’s signing of the ‘Declaration of Commerciality’ for the Glaucus and Pegasus discoveries marks a milestone of strategic importance for the Republic of Cyprus and a decisive step forward in the implementation of our national energy strategy. It also represents a major step towards establishing the Eastern Mediterranean as a credible alternative energy corridor for Europe’, he continues.

He added the signing further confirms the significant potential of Cyprus’ Exclusive Economic Zone, marks the transition to the next stage of development of the discoveries in Block 10, and highlights the opportunities that lie ahead for the Cypriot economy, energy security, investment, and the further strengthening of our country’s geostrategic role.

He further noted that the advanced discussions with the ExxonMobil-QatarEnergy consortium regarding Blocks 4 and 10A are progressing towards their successful completion, building on the significant progress already achieved and opening up new opportunities for the Republic of Cyprus.

‘Through trusted partnerships with leading international energy companies such as ExxonMobil and QatarEnergy, our country continues to strengthen its position as a reliable energy partner, a pillar of stability and cooperation, and a bridge between the Eastern Mediterranean and Europe, contributing to regional energy security, the diversification of energy supply, and the European Union’s broader strategic objectives’, he concluded.

The Index of Industrial Output Prices for May 2026 reached 125,7 units (base 2021=100), recording an increase of 2.5% compared to the corresponding month of the previous year, according to data published on Tuesday by the Statistical Service.

Compared to the corresponding month of the previous year, an increase was recorded in all sectors, as follows: water supply and materials recovery 7.3%, electricity supply 4.7%, manufacturing 1.8% and mining and quarrying 1.7%.

By division of economic activity in manufacturing, in May 2026 compared to the corresponding month of the previous year, increases were recorded in the manufacture of electronic and optical products and electrical equipment (7.9%), the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (5.6%), the manufacture of basic metals and fabricated metal products (5.1%), the manufacture of wood and products of wood and cork, except furniture (4.2%) and the manufacture of machinery and equipment, motor vehicles and other transport equipment (1.8%), while no division recorded a decrease.

No change was recorded in the manufacture of food products, beverages and tobacco products and the manufacture of textiles, wearing apparel and leather products.

In May 2026, compared to April 2026, the index recorded an increase of 3%, remaining stable in mining and quarrying, while it showed an increase in electricity supply by 13.4%, in water supply and materials recovery by 2.1% and in manufacturing by 0.8%.

For the period January-May 2026, the index showed an increase of 0.6% compared to the corresponding period of 2025.