Cyprus Property Forum for Buyers, Sellers & Investors

Hi All,

We are now all aware of the economic crisis in Cyprus. What with the toxic loans to Greece and the property fiasco. However when reading around the news there does not seem to be much optimism or positive reprting that the gas find will in some way help Cyprus out of its present economic situation.

I tend to read the English speaking Cypriot papers, so if you read the Cyprus Mail it is all anti Christofias and all doom and gloom. If you read the Cyprus Weekly then they are more objective in reporting. So maybe some of the reporting is biased against the current government hence the lack of optimism.

I have a vested interest in the Cyprus situation getting better but the way I see it is this. If Greece defaults then Cyprus will well and truly be up the creek without a paddle. If the austerity measures are implemented to the letter then I see Cyprus struggling for at least 10 years (just a guess).

Does anyone know when the output of gas will commence. I ask as this is the only ray of light I can see that will help Cyprus out of the hole. Even with foreign partnership agreements and less provable reserves than expected surely the gas has to go someway to rectify things.

Thanks

I know this does not help anyone who has problems with property at this time but does anyone have any thoughts.

Found the expected time-frame from Reuters

Island hopes for domestic flows by 2017, exports by 2019/2020......

A bit far off to help present situation. You would think geological concerns aside that hey would try and speed things up.

Jackie,

I think if you go into the Internet and look say at Rigzone will be helpful, As to actual Gas coming onshore I think you find this will be a number of years away Noble have chartered a semi to carry-out more appraisal wells when this is completed we know if the Gas is commercially viable and by what method to bring onshore .

Thanks Scots Lad