NICOSIA, Cyprus (AP) - Cyprus' president says potential new gas finds off the east Mediterranean island's shores will determine whether the government will proceed with the "strategic goal" of building a land-based plant to process gas for export abroad.

NICOSIA, Cyprus (AP) Cyprus' president says potential new gas finds off the east Mediterranean island's shores will determine whether the government will proceed with the "strategic goal" of building a land-based plant to process gas for export abroad.

Nicos Anastasiades told a news conference Monday results from an ongoing gas search, in combination with a third offshore oil and gas search licensing round, will decide whether the government will proceed with building the plant that would turn Cyprus into a regional energy hub.

A field off Cyprus' southern coast that's estimated to hold more than four trillion cubic feet of gas isn't enough to warrant the huge investment to build the plant.

But a massive discovery off neighboring Egypt has fueled hopes that more gas could be found in Cypriot waters.