Cyprus energy report

This analysis includes a comprehensive Cyprus energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2019 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Cyprus energy report
February 2022
2 files (PDF report, Excel file)
27 (Report only)

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  • The liberalisation of the market and the promotion of natural gas and renewables are the main priorities of the energy policy.
  • EAC owns the largest generation capacity and has a monopoly on distribution. Its privatisation is underway and will help attract alternative suppliers.
  • The power mix is dominated by oil-fired power plants.
  • Electricity prices are highly influenced by international oil prices.
  • Energy consumption has been recovering since 2013, after a sharp decrease from 2008 to 2013 due to the financial crisis.
  • Cyprus is positioning itself as a gas export hub.
  • Construction of the first LNG import terminal has been launched.

7 TWh

expected electricity demand in 2027


total consumption from oil

23% renewables in final consumption in 2030


  • Institutions & Energy Policy

    The Republic of Cyprus represents 70% of the island of Cyprus (the northern part is the Turkish Republic of Northern Cyprus (TRNC)).

    The Ministry of Energy, Trade, and Industry is responsible for drawing up and implementing the national energy policy through its Energy Service division.

  • Energy Companies


    EAC, Electricity Authority of Cyprus, is the national state-owned, vertically integrated electricity company. It was expected to be fully unbundled by the end of 2016, but the company has secured an exemption to maintain its present regime. CERA is currently evaluating the EAC unbundling process.

  • Energy Supply


    Cyprus is totally dependent on imports for its supply in conventional energy. The only national resources are solar, wind and wood. Recent discoveries of offshore gas made in 2011 could change the situation dramatically.

  • Energy Prices


    In 2020, the average annual price of motor gasoline was €1.08/l, and diesel was €1.12/l. Fuel prices follow global trends and have fallen by an average of 8%/year since 2018. They are lower than the EU average (-17% for gasoline and -8.5% for diesel in 2019).


  • Energy Consumption

    In 2019, Cyprus had a per capita consumption of 1.9 toe, that is still 21% below its peak level of 2.4 toe in 2008 and 38% below the EU average. Electricity consumption per capita was around 4 000 kWh in 2019 (8% below its 2008 level and 29% below the EU average).

    Total energy consumption increased by 3.3%/year between 2013 and 2019, to 2.3 Mtoe, and dropped by 5.5% in 2020.

  • Issues & Prospects

    Following the important discoveries of offshore gas, Cyprus is positioning itself as a gas importer in the medium term, before becoming a gas exporter as of 2024. Moreover, it is diversifying its energy sources by introducing gas in its power production sector, which is presently dominated by oil.

Table of Contents


Download the Table of Contents

List of Graphs

Below is a list of the Cyprus energy market report graphs:

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2019, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2019, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2019, %)
  • GRAPH 9: Final consumption market share by sector (2019, %)

List of Tables

In the Cyprus energy market report you will find the following tables:

  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

Data (Excel Sheet)

The Cyprus energy market data since 1990 and up to 2019 is included in the Excel file accompanying the Cyprus country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Cyprus Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Cyprus energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Cyprus country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.


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