Europe

Cyprus to export natural gas by 2026

Cyprus is targeting the first natural gas exports from the Aphrodite gas field by 2026, said Energy Minister Natasa Pirides.

After a parliamentary hearing, Pilides said there were many options for natural gas infrastructure. One is the pipeline connecting the Cyprus gas fields to Egypt, either a joint pipeline with the Israeli gas fields or a separate pipeline.

Pilides said he has a high degree of contact with companies and contractors that own pipelines from various gas fields to Egypt’s natural gas infrastructure.

“Therefore, they also need to participate in consultations to develop the infrastructure within a period of three to four years.

“Our main purpose is export Natural gas From Cyprus to Aphrodite within this period. “,

She said development would be easier if additional confirmed natural gas levels were discovered.

Aphrodite, the first natural gas discovered in Cyprus, is estimated to have total reserves of 3.6-6 trillion cubic feet (tcf).

A study conducted by Italy’s ENI in Block 6 of the Cyprus EEZ revealed the extension of Zhor-type carbonate play to Cyprus.

A study conducted by Exxon Mobil / Qatar Energy in the Glafcus field in Block 10 revealed that the estimated gas field is 5-8 tcf.

US energy giant ExxonMobil has also conducted an assessment in Graucus, but the confirmed amount has not yet been announced.

“The results of ENI-TOTAL in Glafcus and other exploration wells are very important in terms of the big picture,” said Pilides.

She said the purpose is to utilize Cyprus’ natural gas reserves, as the EU is pursuing. Energy diversification Following Russia’s invasion of Ukraine and subsequent sanctions against Moscow.

In addition, Pilides said the pipeline options to Turkey are extremely difficult and face the same challenges as other projects with technical and financial difficulties.

She mentioned last week a “very constructive” virtual meeting with the EU Energy Commission, which requested Cyprus for a table of energy plans.

Cyprus has submitted to the EU Commission a letter outlining its gas reserves and the opportunities arising from the way natural gas is exported to the EU, and the role of Cyprus in cooperating with Eastern Mediterranean countries.

 

post Cyprus to export natural gas by 2026 First appeared Financial mirror..

https://www.financialmirror.com/2022/05/04/cyprus-to-export-natural-gas-by-2026/ Cyprus to export natural gas by 2026

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