Cyprus, Israel move forward with talks over disputed gas field - NEW EUROPE

AUGUST 7, 2020 : 19:22 

Talks between Nicosia and Tel Aviv and Israel are progressing on Israel’s Yishai gas field which is adjacent to Cyprus’ Aphrodite field, Cyprus’ new Energy, Commerce and Industry Minister Natasa Pilides said on August 5 after her first video conference with her Israeli counterpart Yuval Steinitz, Cyprus News Agency reported.

The Cypriot government granted the Noble Energy, Shell, and Delek consortium an exploitation licence for the Aphrodite gas field. The companies intended to pipe the gas to neighbouring Egypt. Noble Energy has since been bought out by Chevron. But Israel claims a share of the production of Aphrodite, as a small portion of the reservoir stretches into the Yishai field, according to CNA.

Asked if the dispute will be resolved soon, Charles Ellinas, a senior fellow at the Global Energy Center at the Atlantic Council, told New Europe on August 7, “This is what Cyprus Energy Minister has said, but we have not yet seen a response from the Israeli side, other than welcoming Cyprus’ proposals and confirming that it will now study them”.

Steinmetz co slams Israel for giving Ishai rights to Cyprus - GLOBES

11 Nov, 2019 18:46
Amiram Barkat

"The government is allowing Delek Group, Noble Energy to humiliate it," says Ohad Schwartz, a director at Nammax Oil & Gas,

"It is embarrassing to see how the Israeli government is allowing Delek Group Ltd. (TASE: DLEKG) and Noble Energy to humiliate it, after having nurtured them and allowed them to take control of both the local and regional natural gas markets," Ohad Schwartz, a director at Nammax Oil & Gas, controlled by Beny Steinmetz, wrote to Ministry of National Infrastructure, Energy, and Water Resources director general Ehud Adiri. Schwartz represents the Israeli companies that are partners in the Yishai prospect and are claiming rights in the Aphrodite natural gas reservoir, most of which is in Cypriot territorial waters. Nammax was a partner in the Aphrodite 2 gas drilling, in which the reservoir was discovered by Noble Energy in 2011. The reservoir also extends into Israeli economic waters.

Offshore Deposits Offer New Horizons for Cyprus - SOUTH EU SUMMIT

May 9 2019

B. Lana Guggenheim

Thanks to new discoveries of offshore natural gas, Cyprus has a real opportunity to expand its reach in the energy market. But to do this, the island-nation needs to navigate tricky geopolitical realities - as well as expand its current infrastructure – or the opportunity may slip away.

Earlier this year, international energy players discovered two more sites rich in natural gas, just offshore of Cyprus, in Blocks 6 and 10, respectively led by Eni and Total on the one hand, and ExxonMobil and Qatar Petroleum, on the other. This follows previous discoveries in the area, starting as early as 2009, when prospectors discovered reserves of natural gas in the Tamar field off the coast of Israel. Subsequently came the discovery of the Leviathan field offshore of Israel, and the Aphrodite and Calypso fields in Cypriot waters. Altogether, these deposits contain an estimated 40 trillion cubic feet of natural gas – or more.

Currently, both Cyprus and Israel import their energy, but these gas fields have the potential to change all of that, as well as generate revenue via energy exports. Both Europe and Egypt are target markets for this new energy resource, especially as Europe’s demand for natural gas is likely to increase – in part to reduce its reliance on Russia, but also because gas is a cleaner alternative to coal, as the continent slowly transitions to renewable energy sources.