Positive outlook for Cyprus-Israel pipeline

Energy, Commerce, and Industry Minister George Papanastasiou expressed optimism regarding the construction of a pipeline between Cyprus and Israel, following a meeting with ENI CEO Claudio Descalzi and President Nikos Christodoulides at the Presidential Palace on Tuesday. Papanastasiou mentioned that a development plan for the fields in Block 6 of the Cypriot EEZ is anticipated in the near future.

After the meeting, Papanastasiou stated that the discussion with Descalzi and the ENI team was highly productive, focusing on the prompt development of the fields in Block 6 and the surrounding area. The Minister mentioned that additional discussions will take place between the Government and ENI in the coming weeks to devise a plan for field development and explore options for bringing gas to Cyprus for power generation.

Regarding the pipeline construction between Cyprus and Israel, Papanastasiou highlighted ENI's positive stance, subject to the availability of quantities that would justify infrastructure development in Cyprus for LNG export purposes. He emphasized that Cyprus is particularly interested in phase 2 of development, which involves the creation of infrastructure.

Papanastasiou concluded by stating that ENI will propose a plan after consulting with its partners in TOTAL, and further discussions will take place to expedite the process of bringing gas to Cyprus for power generation.

ENI CEO Claudio Descalzi also expressed satisfaction with the meeting, mentioning fruitful discussions about recent discoveries, ongoing operations, and future plans. Descalzi confirmed that ENI is cooperating with the Cypriot government and supports their proposals, emphasizing the importance of economic viability in decision-making.