Nicosia, Cyprus. Diko president Nikolas Papadopoulos said his party’s first job in the new parliament after Sunday’s elections would be to table bills to strengthen the social insurance fund and pensions using revenue from offshore natural gas sales.
Cabinet decision and export timeline
In a written statement on Wednesday, Papadopoulos said new financial paths were opening following a cabinet decision to sell natural gas from the Kronos block. He said that if all goes well, Cyprus would begin exporting natural gas in the first half of 2028, which would mean income of hundreds of millions of euros.
Deposits and revenue use proposal
Papadopoulos said the three biggest deposits in Cyprus’ exclusive economic zone were up for exploitation. He said that instead of saving the revenue in a fund to be used after a solution of the Cyprus problem, the money could be used to improve social insurance and pensions, on the basis of the Norwegian model.
Comments on pensions and party stance
“Our pensioners are entitled to dignity,” Papadopoulos said. He added that Diko was proposing solutions to misery and desperation, and would fight so that every individual and household could enjoy a share of the achievements.
How do you think Cyprus should prioritize potential natural gas revenues between social benefits and long-term savings?