Strategic partnership between Greek Cypriot, Israel

Greek Cyprus President Nicos Anastasiades visits to Jerusalem and discusses joint energy development

Strategic partnership between Greek Cypriot, Israel

World Bulletin / News Desk 

Greek Cypriot leader Nicos Anastasiades met with Israeli energy giant Delek Group owner Yitzhak Tshuva during his visit to Israel on Sunday to discuss the development of the offshore Aphrodite gas field, TRT World News reported.

An important agenda item of Anastasiades' visit will be energy. Cyprus and Israel share significant natural gas reserves. The same companies that own Israel’s Leviathan and Tamar gas fields – Noble Energy, Delek Drilling and Avner Oil & Gas Exploration – also own Aphrodite, a 4.5 trillion cubic feet field that lies off the coast of Cyprus. 

During their meeting, Anastasiades and Tshuva reportedly discussed the possibility of building an independent floating production storage and offloading (FPSO) unit in the area and the merging pipelines from Israeli and Cypriot gas reserves to export gas in the eastern Mediterranean to Egypt.

Earlier this year, the Greek Cypriot administration and Egypt signed a Memorandum of Understanding to outline the technical details of an undersea pipeline in order to supply the BG Group-operated network in Egypt’s Idku or Damietta ports with gas imports by early 2018 from the Aphrodite gas field.

The agreement, which was signed between Cyprus’ CHC Company and the Egyptian Gas Holding Company (EGAS), will also include other companies involved in gas transport and processing - with a deal expected to be reached in six months.

Güncelleme Tarihi: 16 Haziran 2015, 16:00