Government to be officially informed on new plan for ‘Aphrodite’

NewMed Energy, one of the partners in "Aphrodite" hydrocarbons field, listed on the Tel Aviv Stock Exchange, will officially announce the delivery of the modified development and production plan of the block on 31 May, Cyprus Energy Minister George Papanastasiou told the Cyprus News Agency.

He said that the government already has it in draft form, but is expected to be informed officially. According to the Minister, the study of the draft has already begun.

He also said that the workshop "The Cyprus Gateway: Natural Gas to Power and Liquefaction" was an "excellent success". He said that foreign representatives commented on the high level of the presentations made by Cyprus Hydrocarbons Company (CHC) and the Ministry of Energy.

In the meantime, Cyprus News Agency has learnt that there is immediate interest in the construction of a pipeline to connect Israel with Cyprus.

There are also quantities of natural gas to be sent to Cyprus for immediate use for the purposes of conventional electricity generation. Sources told the agency that this is the reason the Minister’s upcoming visit to Israel is important, following the statement by the Israeli Premier that he is interested in creating an alternative export through Cyprus.

The same sources stated that, based on this position, this pipeline should be built in sizes that cover both scenarios, i.e. the electricity production of Cyprus, but also the liquefaction for export purposes.

In order for liquefaction to be carried out, there must be adequate information on Israel’s quantities. Therefore, the Minister’s visit 14-15 June, is considered very important for the discussion of the issue.

Sources said that the expectation is to have a preliminary agreement between the two states on the natural gas pipeline and on the electrical interconnection through a cable. This agreement is not expected to be signed immediately, but at least there will be a discussion to determine exactly what quantities could realistically be committed for shipment to Cyprus by Israel, sources noted.

(Source: CNA)