Gold Magazine July - August 2013, Issue 28

ISSUE 28 JULY 14 - AUGUST 13, 2013 PRICE €4.95 5 29 129 5 00 057 7 00001 > POWERED BY: THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS The Russian Federation has the largest share of the world’s natural gas reserves THE $1.6 trillion per year on average – will be 60 tcf of natural gas Natural gas is primarily used for electricity generation, industrial, residential, and commercial sectors Natural gas emits up to 60% less CO2 than coal when used for electricity generation necessary to meet energy demand until 2035 USGS estimates that Cyprus may have up to Natural gas is affordable, reliable, efficient and available Cyprus’ block 12 first LNG export: Q3/2019 Levant Basin holds close to 3450 bcm of natural gas 25% of the natural gas arriving in the EU is in liquid form Worldwide consumption of natural gas 3,222.9 bcm in 2011 All 6 leased blocks in Cyprus EEZ may potentially hold 1,400 bcm of natural gas Europe is dependent on Russian gas for Cyprus’ block 12 first gas to Cyprus: 35-40% of its energy Q3/2018 production + THANOS DOKOS, GEORGE IOULIANOS, PETER JOHN KUWAIT Learning from the Kuwaiti experience INTERVIEWS John M. Koenig John Mauldin Steve Roberts SOCCERNOMICS How to Deal with German Champions PLUS: MONEY / BUSINESS ECONOMY TAX & LEGAL LIFESTYLE / OPINION