Editor's note: CNN's On the Road series brings you a greater insight
into the customs and culture of Cyprus. CNN.com explores the places, the
people and the passions unique to this eastern Mediterranean island.
(CNN)
-- Locked away deep beneath the sea off Cyprus' southern shores lays a
treasure chest of natural gas that could ease the country's economic
plight.
Still reeling from the infectious banking crisis that
exploded at the beginning of 2013, Cyprus' government hopes the
Aphrodite gas field, discovered two years ago, will help lift the
country out of the economic doldrums.
Named after the goddess of love, the "Lady of Cyprus" gas field could contain up to six trillion feet of cubic gas.
Just
0.5 trillion cubic feet of gas could provide Cypriots with energy for
25 years, leaving ample reserves for export to Asia and Europe,
according to Cyprus' Energy Minister Giorgos Lakkotryis.
But the minister was quick to stress that offshore gas operations would not solve Cyprus' economic anguish in the short-term.
"We
do not depend on the offshore operations and the gas to come out of
this recession," said Lakkotryis. In the mid- and short-term we're
looking at side effect benefits."
Read more: Cyprus country profile
Lakkotryis believes it will take until 2020 before Cyprus sees any direct benefit from the gas.
"A
lot needs to be done. The cheap availability of energy is also going to
allow us to create other industries such as petrochemicals and heavy
manufacturing."
The minister added that multinational oil and gas
companies as well as infrastructure projects aimed at converting gas to
liquid would create jobs, spur growth and boost exports.
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