Nicosia, Cyprus. Cyprus recorded an energy import dependency rate of 88% in 2024, placing it among the most energy-dependent countries in the European Union. Authorities said they are monitoring rising geopolitical risks linked to the Middle East.
Cyprus among highest in EU
According to a Eurostat report released on Wednesday, Cyprus’s 2024 energy import dependency rate of 88% put it alongside Malta and Luxembourg among the highest in the EU. The figure indicates that most of the island’s energy needs are covered by imports, leaving it exposed to external shocks in global energy markets.
EU import dependency and energy mix
Across the EU, the overall energy import dependency rate stood at 57%, meaning nearly 60% of energy consumption relied on net imports. Oil and petroleum products accounted for 67% of total EU energy imports, followed by natural gas at 24%, solid fossil fuels at 4%, electricity at 3% and renewable energy at 2%.
Key suppliers
In terms of supply, the United States provided 16% of oil and petroleum imports. Norway accounted for 30% of natural gas imports, while Australia supplied 31% of solid fossil fuels.
Heightened focus amid regional tensions
The reliance on imported fossil fuels underscores structural vulnerability in energy systems across Europe, particularly in countries like Cyprus with limited domestic resources. The vulnerability is being tested as tensions in the Middle East raise concerns about fuel supply and price volatility, particularly in light of developments linked to Iran.
“The situation in the Middle East and its impact on fuel and energy prices is being continuously monitored,” government spokesperson Konstantinos Letymbiotis said the day before.
How could Cyprus reduce its exposure to external energy price shocks?
