EAC participates in the share capital of ETYFA

​​Following the signing of an agreement between DEFA (Natural Gas Public Company) and EAC on 9 March, concerning EAC's participation in the share capital of ETYFA (Natural Gas Infrastructure Company), EAC has announced that, in the context of its obligations owing under the contract, it has deposited the total amount of €43 million. Consequently, EAC has acquired 30% of the share capital of ETYFA. 

This agreement marks the conclusion of several years of efforts and strengthens EAC's role in the new energy era, particularly in the different reality brought by the COVID-19 pandemic, which has created additional significant and multi-faceted challenges.

Despite the present difficulties observed in the broader environment, EAC is implementing its strategic plan in a prudent and responsible manner in the context of its corporate mission. Its main goal is the strengthening of Cyprus in the energy sector, which will be achieved through the development of natural gas receiving facilities and the further exploitation of Renewable Energy Sources.

EAC's participation in this project of great strategic importance and national value is a key development for the Authority and the energy future of Cyprus. 

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Press Office:  30 April 2020

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