Aphrodite gasfield has certainly resurfaced - CYPRUS MAIL

George Papanastasiou, Cyprus' Energy Minister

June 12, 2023
Dr Charles Ellinas

Despite challenges, the latest plans for the development of Aphrodite are more serious and realistic

Aphrodite is back in the limelight. On May 31 NewMed submitted an updated development plan to Cyprus’ government, on behalf of the field joint venture (JV) that includes Chevron as the operator and partner Shell. This is based on transporting the gas to Shell’s West Delta Deep Marine (WDDM) existing processing and production facilities offshore Egypt, from where it will be transported to the mainland eventually for domestic consumption or for export as LNG. First gas is expected by 2028.

This goes against George Papanastasiou’s, the energy minister, wishes for the Aphrodite partners to prioritise supply of gas to the island. In April he said that he didn’t think that gas from the Aphrodite gasfield should end up in Egypt’s liquefaction terminals.

“Our approach around the use of natural gas as a transition fuel is being reviewed and we are including the natural gas found in the East Med, and more specifically Cyprus’ EEZ, in the mix for use in the domestic market,” he said.

Aphrodite back in the limelight - CYPRUS MAIL

September 25, 2022
Dr. Charles Ellinas

The roadmap to resolve the dispute with Israel is welcome but Europe is still phasing out gas

The news this week that the energy ministers of Cyprus and Israel agreed to a roadmap for future negotiations on how to resolve the long-standing dispute on how to share the Aphrodite gasfield that Israel claims extends into the adjacent Ishai block. This is long-overdue and is a welcome development. The two ministers have made significant progress on the principles of a unitization agreement and the terms for an expert to be appointed to advise on the Ishai share.

Teams from the two sides will continue the discussions “over the coming weeks,” but no firm timetable was given. However, with terms still to be agreed, an expert to be appointed, review the geological, survey and all drilling data and make recommendations for the two sides to agree, this will take months.

Cyprus, Israel pledge quick deal in gas field dispute - KATHIMERINI

19.09.2022 • 19:30
MENELAOS HADJICOSTIS

Israel and Cyprus said Monday that they have made “significant” headway in resolving a long-running dispute over an offshore natural gas deposit and say they are committed to quickly reaching a deal as Europe looks for new energy sources.

Cyprus Energy Minister Natasa Pilides and her Israeli counterpart, Karine Elharrar, held talks in the Cypriot capital, pledging to press toward a “fair and swift resolution.”

Israel claims that a portion of Cyprus’ Aphrodite deposit estimated to hold some 4.4 trillion cubic feet of natural gas falls inside its nearby Ishai field, along an offshore demarcation line that separates the two countries’ exclusive economic zones.

Negotiations have stretched for several years, but Europe’s need to wean itself off Russian energy sources since the war in Ukraine appears to have added a new sense of urgency to the talks. Russia has cut back natural gas supplies to Europe, driving up prices.

Israel Stays Mum as Development Work Begins at Giant Cyprus Gas Field - HAARETZ

Jul 24, 2018 10:49 PM
Ora Coren

Countries have failed to agree on rights of license holders in adjacent Israeli field, but Aphrodite partners begin development anyway

After years of delays, development of Cyprus’ Aphrodite gas field is getting under way without any Israeli government role, even though part of Aphrodite’s reservoir lies in Israeli economic waters and is licensed by the government for development.

Critics say Israel’s inaction jeopardizes not only 3 billion shekels ($820 million) in future tax revenues but also its ability to guarantee its stakes in other reservoirs shared with neighboring countries in the Eastern Mediterranean.

“It’s not clear, to say the least, why the government is acting this way, in particular the inexplicable ease with which it could cause a loss of 3 billion shekels in taxes,” said Rony Halman, the chairman of Israel Opportunity, a partner in the Ishai field adjacent to Aphrodite.

“The inaction of the Israeli government also threatens to create a dangerous precedent in connection with other joint reservoirs we have with our neighbors — Lebanon and Egypt,” Halman told TheMarker.

Owners of Israeli field seek to stop Cyprus deal with Egypt - CYPRUS MAIL

MARCH 14, 2018

George Psyllides

The owners of the rights in an Israeli natural gas field next to Cyprus’ Aphrodite reservoir have asked the Israeli government to take steps to stop the island signing a gas deal with Egypt as this would affect their interests, reports said.

Israeli business news portal Globes said the owners of the rights in the Ishai licence, a continuation of the Cypriot Aphrodite gas reservoir on the Israeli side of the boundary between the two countries’ economic zones, wrote to Petroleum Commissioner Yosi Wurzburger and to Minister of National Infrastructures, Energy and Water Resources, Yuval Steinitz claiming that the extraction of gas on the Cypriot side would lead to the extraction of gas from Ishai as well.

In Nicosia, a government source rebuffed the demand, according to the Cyprus News Agency.

“The claim, which is old, is unreasonable since they have officially admitted that the quantity discovered at Ishai is negligible and cannot be recovered,” the source told the agency.

The Israeli demand followed reports that Cyprus was in talks with Egypt to export gas from Aphrodite.

Ishai license holders warn on gas extraction from Aphrodite - GLOBES

13 Mar, 2018 10:32
Sonia Gorodeisky

Israel Opportunity chairman Rony Halman: Further development of the Aphrodite reservoir that ignores Israel's rights will represent a dangerous precedent.

The owners of the rights in the Ishai license, a continuation of the Cypriot Aphrodite gas reservoir on the Israeli side of the boundary between the two countries' economic zones, wrote to Petroleum Commissioner Yosi Wurzburger and to Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz claiming that the extraction of gas on the Cypriot side would necessarily lead to the extraction of gas from Ishai as well. The approach to the ministry follows reports that Cyprus is in negotiations with Egypt on an agreement for the export of gas from Aphrodite. In addition, energy giant Shell is reported to be in talks in buying gas from the Aphrodite and Leviathan reservoirs.

Regulator extends Ishai gas exploration license | Globes

Regulator extends Ishai gas exploration license

29/09/2014, 18:34

Globes correspondent

Israel and Cyprus are negotiating a unitization agreement that will include the license.

"The negotiations between Israel and Cyprus on a framework agreement to consolidate joint development and production activity are in full swing, and are likely to include arrangements for dividing up the joint reservoirs," Alexander Varshavsky, Director of the Natural Gas Authority and Petroleum Commissioner at the Ministry of National Infrastructure, Energy and Water Resources told the companies that are partners in the Ishai exploration license, after informing them that their license was being extended to 2016.

Gas and oil exploration partnership Israel Opportunity said in a notice to the Tel Aviv Stock Exchange this morning that the agreement between Israel and Cyprus would include the Ishai license.

Ishai is one of six offshore drilling licenses known as the Pelagic licenses, covering 2 million dunams (2,000 square kilometers) 170 kilometers west of Haifa, and bordering the Gal and Ratio Yam licenses where the Leviathan structure is situated and Noble Energy's Block 12 in Cyprus. The Aphrodite 2 drilling that the license partners carried out towards the end of 2012 showed that the Aphrodite reserve discovered in the Cypriot Block 12, containing some 5 TCF (trillion cubic feet) of natural gas, partly runs into the area of the Ishai license.

According to the Petroleum Commissioner's notice, the agreement between Israel and Cyprus will contain many clauses that apply to license holders on both sides, among other things, clauses obliging the two license holders to reach a unitization agreement, subject to the conditions and timetable set out in the framework agreement.

Israel Opportunity chairman Rony Halman welcomed the agreement being formulated, saying, "There is great potential for finding additional gas and oil reserves in the Levant Basin, and so cooperation between Israel and Cyprus will restore attention to our region and enable the two countries to exploit the possibilities of exporting the gas that has been discovered and that will be discovered in their territories, which will strengthen them both politically and economically."

Link to source: http://www.globes.co.il/en/article-regulator-extends-ishai-gas-exploration-license-1000975026