The discovery of hydrocarbons in Cyprus’ Offshore Exclusive Economic Zone (EEZ) has created new exciting prospects for the country to become a key energy hub in the Eastern Mediterranean.

Developments have attracted worldwide interest and significant investment from leading energy giants as well as renowned international providers operating in the oil and gas auxiliary services sector. Cyprus is also fast developing into a regional fuel hub, operating a sophisticated oil storage terminal in Vasilikos, the first terminal of its kind in the Eastern Mediterranean, connecting Europe and the Black Sea with markets in the Middle East and Asia.  The terminal was designed and constructed by Dutch multinational VTTI, a major global terminal operator, and uses the Cyprus terminal for blending raw material and then exporting it to the rest of the world.

With Cyprus’ strategic location and determination to establish itself as a key energy hub and a bastion of stability and security in the region, it has tremendous growth prospects.