Cyprus is getting closer to obtaining its own gas supplies from a number of possible sources. But how much gas does it actually need and how can it ensure security of supply at competitive prices?
As and when natural gas becomes available to Cyprus, it will be used solely for the production of electricity, at least initially until plans to diversify gas use in other sectors have been developed.
The highest conventional electricity production since 2005 was achieved in 2011 at 5,272GWh. It subsequently declined to as low as 4,256GWh in 2013.
Over the last five years conventional electricity generation has remained relatively constant at an annual average of about 5,000GWh. But over the same period total electricity consumption grew by about two per cent per year, with much of the growth provided by renewables (RES).
According to Cyprus’ 2021-2030 National Energy and Climate Plan (NECP), electricity consumption is expected to increase to just over 6,000GWh by 2030, with 26 per cent to be provided by RES. But this has now been superseded by major changes in the EU’s climate policies.
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