Cyprus promotes EU course for sustainable and affordable energy amid crises

As part of the Republic of Cyprus presidency of the Council of the EU, Minister of Energy, Commerce, and Industry Michalis Damianis declared the priority of creating a sustainable and affordable energy system capable of withstanding external shocks. He made this statement while chairing an informal meeting of energy ministers at the Filoxenia Conference Centre.

According to the minister, the European Union faces new challenges amid international instability, including the consequences of the conflict in the Middle East, which puts pressure on energy markets. Under these conditions, he emphasized, the EU must strengthen the energy union and ensure energy price stability for citizens, business, and industry.

Central themes of discussion at the meeting were the AccelerateEU program, the development of electricity storage systems and energy security, as well as the role of natural gas in the transition period after 2030.

Damianis noted that the AccelerateEU initiative, presented by the European Commission under the leadership of Commissioner Dan Jørgensen, aims to accelerate energy efficiency, modernize infrastructure, and reduce greenhouse gas emissions. The program also provides for the active promotion of renewable energy sources in all EU member states.

The minister stressed that Europe must strengthen the strategic use of its own resources, develop hydrogen technologies and decarbonization measures. According to current EU goals, greenhouse gas emissions are planned to be reduced by 90% by 2040, with natural gas maintaining its role as a transitional energy source.

Particular attention during the meeting was paid to the need for coordination between member states. Damianis emphasized that Europe's energy security must be based on unity and concerted decisions, especially in the context of global crises.

The Cypriot side states that it will continue to promote initiatives aimed at strengthening EU energy resilience and accelerating the transition to clean energy while maintaining market stability.