Cyprus: LNG plant construction depends on future gas discoveries

Cyprus LNG plant construction depends on future gas discoveries

Cyprus’ decision on building an onshore LNG plant to develop its offshore gas resources will depend on future gas discoveries.

This was stated on Monday by the country’s president Nikos Anastasiades during his press conference on the three years of his presidency.

He said that the results of the ongoing research programs or those of the news licences would be a decisive factor in implementing the strategic objective of building an LNG terminal in Cyprus and convert it into an energy hub.

As for the new licences mentioned, Anastasiades referred to the third offshore licensing round for hydrocarbon exploration the country launched on March 24, 2016. Three blocks are open for licensing, with the application deadline set for July 22, 2016.

Cyprus will be hoping to see more gas discovered within its exclusive economic zone, especially after Eni recently put the Mediterranean in the spotlight following the discovery of the giant Zohr gas field in Egypt in September 2015.

Cyprus government in June last year welcomed declaration of commerciality of the “Aphrodite” natural gas offshore field by the operator, Noble Energy.

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Posted on April 19, 2016 with tags .

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