EMGC underway with Mediterranean business workshop


EMGC 2013 conference underway with Mediterranean business workshop


NICOSIA, Cyprus – The inaugural Eastern Mediterranean Gas Conference (EMGC 2013) was launched here with a workshop by Deloitte on doing business in the Mediterranean region. Organized by Gulf Publishing, the EMGC host sponsor is Noble Energy, which made a series of giant gas discoveries in the eastern Mediterranean, including Leviathan, offshore Israel and Aphrodite, offshore Cyprus.

The workshop participants received a welcome from Marious Tannousis, Sr. Investment Promotion Officer for the Cypress Investment Promotion Agency (CIPA). “We strive to provide equal terms for foreign entities as local investors,” Tannousis said. “We’re currently receiving foreign direct investment from Russia, MENA, USA, China and India.”

The EMGC 2013 continues until April 10 with a series of commercial and technical presentations, including a keynote speech by Chuck Davidson, Chairman and CEO of Noble Energy.

During the first portion of the workshop, a series of speakers from Deloitte’s Cyprus office explained rules and regulations associated with corporate taxation, value added tax and HR infrastructure for oil and gas operators and service and supplier companies hoping to participate in the Cyprus oil and gas industry.

“We’re capable of providing hands-on experience over the last five years,” explained Nicos Papakyriacou, Deloitte partner in charge of the Nicosia office. Other speakers were Paul Mallis, a taxation expert; Christos Papamarkides, authority on VAT; and George Pantelides, in charge of HR consulting services.

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