Philenews

Energy Minister: Investments in Energy Boost Security and Competitiveness

Published March 16, 2026, 10:15
Energy Minister: Investments in Energy Boost Security and Competitiveness

The Minister of Energy, Commerce and Industry, Michalis Damianou, emphasized the need to strengthen energy security and promote investment in energy networks, given the pressures on the European energy market. He pointed out that Cyprus has returned to normal and that all scheduled European events will proceed as planned. He stressed the need for €660 billion in investment in energy networks, emphasizing that covering this cost requires private investment as well. The Minister also referred to affordable energy and developments in Moldova and Ukraine, emphasizing that investments in energy enhance security and competitiveness.