Cyprus Energy Information

Cyprus Energy Research

- Cyprus's Energy & Climate Policy Framework: Cyprus has set ambitious 2030 energy and climate targets in its final NECP, including 33% renewables and a 32% GHG reduction. The electricity market is fully liberalised, with 17 suppliers operating since 2025. Key measures include promoting renewables, energy efficiency, and green hydrogen, alongside EU-funded green transition initiatives.

- Cyprus's Energy Companies: Cyprus' EAC dominates electricity (63% capacity) and oil/gas sectors. No new exploration licences granted. Eni, ExxonMobil, and TotalEnergies operate key blocks.

- Cyprus's Energy Supply & Demand: Cyprus relies heavily on oil (85% of primary energy) but is expanding solar and wind capacity. Energy consumption rose 6% in 2024, with per capita use below EU average. Offshore gas discoveries may reduce import dependence.

- Cyprus's Energy Use & Price by Sector: In 2024, Cyprus' final energy demand rose 4% to 1.7 Mtoe, with transport (43%) and buildings (40%) as the largest consumers. Oil's share declined, while electricity and biomass grew. Industrial energy use stabilised, with oil's share halving since 2010. Electricity prices, influenced by oil, surged before falling in 2024. Transport and residential sectors saw fluctuating demand and prices.

- Cyprus's Issues & Prospects: Cyprus is developing its gas and renewable energy sectors, with plans for new CCGT and solar projects, while exploring offshore gas fields like Aphrodite and Cronos. Electricity demand is projected to grow, with significant investments in transmission infrastructure, including interconnections with Greece and Egypt. The country also aims to become a regional energy hub, with LNG import terminals and green hydrogen initiatives under development.

Cyprus Total Energy Production & Consumption

Primary energy consumption increased by 6% in 2024, reaching 2.4 Mtoe, after remaining stable in 2023. From 2013 to 2022, consumption has been increasing by around 1.5%/year, after a sharp decline by approximately 8%/year from 2010 to 2013. At 1.7 toe, total energy consumption per capita is nearly 40% lower than the EU average.

Oil accounts for the largest share of primary energy consumption (85% in 2024), with biomass (6%) and primary electricity sources (5%) completing the energy mix.

Graph: Primary Consumption Trends by Energy Source

Source: Cyprus energy report

Interactive Chart Cyprus Total Energy Production & Consumption

Source: Global Energy & CO₂ data

Cyprus Oil Production & Consumption

Since the closure of the Larnaca oil refinery in 2004 Cyprus has imported all its oil products. The refinery was transformed into an import terminal and a storage centre.

Since 2008, imports of oil products have declined by 1.4%/year to 2.5 Mt in 2024. Greece accounts for 29% of these imports, followed by Israel (23%) (2024).

Graph: Petroleum Products Production & Consumption

Source: Cyprus energy report

Interactive Chart Cyprus Crude Oil Production & Consumption

Source: Global Energy & CO₂ data

Interactive Chart Cyprus Refined Oil Products Production & Consumption

Source: Global Energy & CO₂ data

Cyprus Natural Gas Production & Consumption

Cyprus does not produce or import natural gas. 

Source: Cyprus energy report

Interactive Chart Cyprus Gas Production & Consumption

Source: Global Energy & CO₂ data

Cyprus Coal and Lignite Production & Consumption

Coal imports have almost disappeared (22 kt in 2024) declining by 30% year since 2021; they used to supply the cement industry.

Graph: Coal Production & Consumption

Source: Cyprus energy report

Interactive Chart Cyprus Coal and Lignite Production & Consumption

Source: Global Energy & CO₂ data

Cyprus Renewable in % Electricity Production

The Cyprus Energy Agency, established in 2009, is in charge of the development of renewable energies.

The final NECP (2024) sets a target of 33% of renewables in final consumption by 2030. In 2024, this share reached 21.9% (24% for electricity, 41.6% for heating and cooling, and 7.2% for transport).

The 2020 target of a 13% share of renewables in final energy consumption was exceeded by almost 4 points (16.9%).

Source: Cyprus energy report

Interactive Chart Cyprus Share of Renewables in Electricity Production (incl hydro)

Source: Global Energy & CO₂ data

Cyprus GHG emissions and CO₂ emissions

Cyprus' final NECP targets a 32% reduction in GHG emissions by 2030 compared to 2005; according to scenarios highlighted in the NECP, GHG emissions could decline by up to 26% by 2030. Additional measures are necessary to fill the gap.

Source: Cyprus energy report

Interactive Chart Cyprus CO₂ emissions

Source: Global Energy & CO₂ data