x

Society

Cyprus Mulls New Deal With US Energy Company Over Gas Field

August 22, 2018

With oil prices rising again, Cyprus’ government is considering trying to redo a deal with Houston-based Noble Energy over the operation of the Aphrodite 4.5 trillion cubic foot gas field discovered in 2011.

Government spokesman Prodromos Prodromou said that President Nicos Anastasiades may bring the issue before the Cabinet to discuss whether to change the terms of the initial contract, the Cyprus Mail said.

“Despite challenges or obstacles some people attempt to raise, we are now at a point that decisions of strategic importance have to be taken,” he said without giving any details.

Aphrodite lies in block 12 of Cyprus’s Exclusive Economic Zone (EEZ), part of which Turkey doesn’t recognize, sending warships six months ago to keep the Italian company Eni from looking for oil and gas where it was licensed.

Noble heads a consortium with Israel’s Delek and Britain’s BG (British Gas), a subsidiary of Shell and the Aphrodite field, under another deal, will linked with Egyptian liquefaction plants via a pipeline, expected to be signed this autumn.

A second look at the Noble deal comes weeks before an ExxonMobil – Qatar Petroleum consortium begins drilling for gas in block 10 of Cyprus’s EEZ.

Energy Minister Yiorgos Lakkotrypis is expected to reveal details over the decisions that the cabinet will take, Prodromou said.

RELATED

JERUSALEM (AP) — The construction of a new port in Gaza and an accompanying U.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Over 100 Pilot Whales Beached on Western Australian Coast Have Been Rescued, Officials Say

MELBOURNE, Australia (AP) — More than 100 long-finned pilot whales that beached on the western Australian coast Thursday have returned to sea, while 29 died on the shore, officials said.

On Monday, April 22, 2024, history was being written in a Manhattan courtroom.

PARIS - With heavy security set for the 2024 Paris Olympic Games during a time of terrorism, France has asked to use a Greek air defense system as well although talks are said to have been going on for months.

WASHINGTON (AP) — A tiny Philip Morris product called Zyn has been making big headlines, sparking debate about whether new nicotine-based alternatives intended for adults may be catching on with underage teens and adolescents.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.