Concerning the development of the internal gas market and network, a Natural Gas Company, known by its Greek Acronyms as DEFA, has been established and is responsible for the import, storage, distribution, transmission, supply and trading of natural gas, and the management of the distribution and supply system of Natural Gas in Cyprus. The council of Ministers of the Republic of Cyprus has issued a decree dated 18/06/2008, which appoints DEFA as the sole importer and Distributor of Natural Gas in Cyprus and directs DEFA to proceed with securing the necessary Natural Gas quantities at the best commercial terms.
Per the Articles of Association of the Company, prepared by the Government of Cyprus, the scope of action of DEFA includes:
- Buying, Importing, Holding, Using, Distributing, Selling, Supplying Natural Gas, in any Form.
- Operation of the Natural Gas Transmission and Distribution Network.
- Signing of Treaties/Conventions with the Republic of Cyprus or any other Country or Company or Organisation etc.
- Negotiating, Buying, Selling, Managing, Storing, Importing, Exporting, Re-exporting etc. any goods, tangible or intangible, including Natural Gas.