By Christos Meliopoulos
The energy bonanza that is in the offing in Cyprus is becoming a little bit more real and tangible this week, with a triple “attack” on targets that are pursued simultaneously.
In the shorter-term development, the ongoing appraisal drilling in Block 12 of the Aphrodite natural gas field has reached the climax of its first phase. The drill of Noble’s ENSCO 5006 platform has gone beyond 5,600 metres beneath sea level, as the Minister of Energy, Commerce, Industry and Tourism George Lakkotrypis said. Industry experts say that now is the turn of the evaluation of the geological data collected in the process. According to the minister it will take a few weeks to determine where Cyprus stands.
In the meantime, this week sees the first round of negotiations between the Cypriot government and Noble-Delek, the American and Israeli companies, respectively, that will participate in the project of the liquefaction of the Cypriot gas along with Anver.
Reports say that the Noble-Delek representatives are ready to present specific proposals on the structure and the share capital of the LNG (Liquefied Natural Gas) terminal that will be built in Vasilikos. The Cypriot side is said to be in a listening mood during this first round of discussions, as Nicosia has decided to hire consultants to assist in the creation of a sufficiently mutually beneficial plan which will be later presented to the other side. This is not planned to happen for at least a couple of more weeks.
The wider diplomatic, political and economic aspect of the energy activity in the area is best reflected in a third development, the meeting between the Energy Ministers of Cyprus, Greece and Israel in Nicosia this week. The three countries’ energy future seems inextricably linked and the tripartite meeting serves as a timely opportunity to gauge each other’s commitment to the projects in hand.
Apart from the natural gas front, the three countries are talking about another highly significant commodity, water. The signing of a Memorandum of Understanding sets “the framework of a tripartite dialogue on energy issues and water resources with specific suggestions for actions such as the protection of the environment and the management and development of water resources,” as Mr Lakkotrypis said.
Cyprus is also keen to discuss with Israel the collaboration on a possible electricity connection via a submarine pipe which fits in with the creation of new electric power plants. The future energy landscape of Cyprus also awaits results of the research activities in the island’s Exclusive Economic Zone by ENI/KOGAS and Total both for gas and oil.
Source: Independent Balkan News Agency
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Reports say that the Noble-Delek representatives are ready to present specific proposals on the structure and the share capital of the LNG (Liquefied Natural Gas) terminal that will be built in Vasilikos. The Cypriot side is said to be in a listening mood during this first round of discussions, as Nicosia has decided to hire consultants to assist in the creation of a sufficiently mutually beneficial plan which will be later presented to the other side. This is not planned to happen for at least a couple of more weeks.
The wider diplomatic, political and economic aspect of the energy activity in the area is best reflected in a third development, the meeting between the Energy Ministers of Cyprus, Greece and Israel in Nicosia this week. The three countries’ energy future seems inextricably linked and the tripartite meeting serves as a timely opportunity to gauge each other’s commitment to the projects in hand.
Apart from the natural gas front, the three countries are talking about another highly significant commodity, water. The signing of a Memorandum of Understanding sets “the framework of a tripartite dialogue on energy issues and water resources with specific suggestions for actions such as the protection of the environment and the management and development of water resources,” as Mr Lakkotrypis said.
Cyprus is also keen to discuss with Israel the collaboration on a possible electricity connection via a submarine pipe which fits in with the creation of new electric power plants. The future energy landscape of Cyprus also awaits results of the research activities in the island’s Exclusive Economic Zone by ENI/KOGAS and Total both for gas and oil.
Source: Independent Balkan News Agency
- See more at: http://www.shippingherald.com/Admin/ArticleDetail/ArticleDetailsAnalysis/tabid/115/ArticleID/11676/Painting-the-new-Cypriot-energy-landscape.aspx#sthash.uVw6wazR.dpuf
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