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21 April, 2024
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Cyprus overcomes gas field hurdles, eyes ENI CEO visit

Energy Minister Giorgos Papanastasiou announces progress amid optimism and legal reviews

Newsroom / CNA

Energy Minister Giorgos Papanastasiou announced Wednesday that hurdles in the development plan for the "Aphrodite" gas field have been overcome, marking progress in Cyprus' energy ambitions.

Papanastasiou revealed that ENI's CEO is scheduled to visit Cyprus by the end of April to discuss the "Kronos I" and "Kronos II" fields, with hopes of gaining clarity on the company's intentions.

Following a Cabinet meeting, Papanastasiou addressed reporters, expressing optimism about overcoming difficulties in the Aphrodite field's development plan. He affirmed that the issue causing the delay has been resolved, indicating a direction based on the 2019 development and production plan agreement.

Regarding Chevron's proposal to advance efforts, Papanastasiou emphasized the government's eagerness to respond promptly to facilitate joint venture planning. He confirmed that the improved proposal was under review by legal advisers, with a response expected in the coming days.

When pressed on the government's satisfaction with the optimized proposal, Papanastasiou reiterated the adherence to the 2019 plan and declined to delve into specifics, citing a decision within the ministry to limit public statements.

Highlighting the importance of focusing on substance over public statements, Papanastasiou stressed the necessity of releasing natural gas from the Aphrodite field to international markets.

Addressing concerns about a dispute with Israel over block 12, the Minister clarified that any challenges were unrelated to the small deposit near Aphrodite in Israel's Exclusive Economic Zone (EEZ). He disclosed that during a recent visit to Israel, an intergovernmental agreement was reached to resolve the matter after attempts for a company-level agreement failed.

Cyprus  |  energy

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