articles | 29 October 2015

Determining Cyprus share in Zohr gas prospect

Energy Minister Yiorgos Lakkotrypis saysthere is as yet no way of knowing if Egypt’s recently discovered Zohr offshore super giant natural gas field extends into Cyprus Exclusive Economic Zone (EEZ).

Speaking to reporters, the minister said only the examination of geological data connected to the site would provide an answer. He said technical committees from Cyprus and Egypt were currently discussing the matter, in line with pre-signed agreements between the two countries.

Lakkotrypis said: “We have some initial indications which show that the outline at least extends (into Cyprus’ EEZ) but it remains to be seen if the actual deposit, the natural gas, does”.

“We cannot say anything before the geological data is examined, which is something I discussed in Cairo during my visit there,” Lakkotrypis said.

“There are agreements in place which set out the terms for the two countries and right now it has been agreed that the technical teams of both countries will discuss how we can move ahead,” the minister said.

On plans for the exploitation of Cyprus’ Aphrodite natural gas site, Lakkotrypis said the aim was for buyers from both the Cypriot and the Egyptian market to be found. “This was also discussed during my recent meeting to Cairo during which the Egyptian government’s interest in purchasing Cyprus’ natural gas was reconfirmed along with that of the companies,” he said.

“I must say that the two are related, for the project of developing Aphrodite to become viable, a work involved several billions of euro, buyers must be found for the highest percentage of natural gas there is at Aphrodite and this is where our efforts are directed,” he said.

Lakkotrypis also said cooperation would continue both between Cyprus and Greece and Cyprus, Greece and Egypt as well as Cyprus, Greece and Israel.

He added: “With the President’s upcoming visit to Jordan, there is the possibility of a wider configuration”.

Source: InCyprus

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