Is this legal...Tpap is lining his pockets once again and the GC people are watching as it happens.......
Cyprus government to set up company for natural gas import
12/11/2007
President Tassos Papadopoulos said that the government will take all necessary steps to help set up a company for the import of natural gas. This, he pointed out, has to be done as quickly as possible.
“We shall set up a company to import natural gas. This move is linked to the possibility of obtaining permission to declare our market an emerging market,” he said.
He explained that a market can be declared “emerging” only if there is an importer or when all the necessary preparations have been made to have somebody to import who will get the licence.
“We have invited the Cyprus Electricity Authority to participate in this company with a 39 percent stake. My understanding is that they have said they are not interested,” he said, adding that the government will go ahead with this decision.
He said he had given instructions to register a company and if the decision to declare the Cyprus market an emerging market is approved, the only importer who will be allowed to operate would be this company.
“If the company is not established,, it is possible that he who has a license – be it temporary of limited – will be the only one to be allowed to import gas,” he explained.
In this case, he added, neither the Electricity Authority nor the government will be included.
“That is why it is urgent to set up a company, make all the preparations for the import of natural gas, which will be on a long-term basis of 25-30 years, something which is not easy to achieve without inter-state agreements,” he pointed out.
http://www.financialmirror.com/more_news.php?id=8887