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Cyprus and Chevron-Led Group Extend Talks over Gas Plan

NATURAL GAS

Cyprus and a group of energy companies led by Chevron will extend discussions on the development of the Aphrodite offshore gas field amid positive negotiations, the energy minister said Sep. 29, according to Reuters.

  • "It is not a new negotiating round, it's an extension, because there is progress in the conversation," Energy Minister George Papanastasiou said to Reuters.
  • The project has been delayed by disagreements over proposed changes to Chevron’s initial plan, which removed a floating gas plant and cut the production wells from five to three, Reuters said.
  • The project’s goal is to link the Aphrodite field via pipeline to Egypt, where the gas will be either sold domestically or exported as LNG.

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