Consultations with Chevron continue in a positive atmosphere, Energy Minister says

Minister of Energy, Commerce and Industry, George Papanastasiou, has said that there are parallel consultations taking place and both sides are behing held in a positive atmosphere towards reaching common ground in relation to Chevron, the managing company of the "Aphrodite" gas field, in Cyprus Exclusive Economic Zone.

In statements to CNA on the sidelines of a conference in Limassol, Papanastasiou said that the new timetable given, until 1 December, is for the company's position, "not for an overall solution but for a position on specific questions which were given through our letter of November 20th."

Papanastasiou said that although one week had initially been deemed as more than enough "due to the absence of executives who would contribute to the drafting of the response as well as the strategy surrounding the response, yesterday the new extension was given in writing by the Ministry, until December 1st."

"In the meantime, contacts have been made, we do not limit ourselves to letters, which are simply to establish the legal framework based on a contract that exists and is agreed upon", he said adding that "parallel consultations are also taking place and I see a positivity from both sides in order to find a common ground."

Referring to the event in Limassol, EMC 2023 (Eastern Mediterranean Energy Conference & Exhibition), which was co-organised by the Ministry together with the Cyprus Hydrocarbons Company, Papanastasiou said that it had attracted the attention of many interested parties dealing with natural gas.

He added that discussions on the issue will take place and said that they would also touch upon many geopolitical issues, in the eastern Mediterranean, which are related to natural gas.

The Minister said that "there is the ongoing war between Israel and Hamas that affects energy and especially energy in Cyprus, and there is also the stability that we must maintain in the eastern Mediterranean, through the use of our energy sources, not only for Cyprus but also Israel and Egypt."

Concluding, he expressed hope that, Cyprus will also gain knowledge from other speakers regarding the specific issues.

(Source: CNA)