Progress in Aphrodite Gas Field Development
In a recent announcement that marks a significant step forward for Cyprus’s energy sector, Energy Minister George Papanastasiou confirmed that the hurdles impeding the development of the Aphrodite gas field have been “overcome.” The minister’s comments came after a productive cabinet meeting, signaling a green light for the project to proceed according to the 2019 development and production plan.
Papanastasiou urged patience as the government prepares to divulge more detailed information to the public. In response to inquiries about a timeline for Chevron’s latest development proposal, he emphasized the urgency of replying promptly to initiate the joint venture planning process. This approach is expected to provide a clear direction and schedule for capitalizing on the gas field’s potential.
With Chevron’s understanding that operations will adhere to the pre-established plan, Papanastasiou noted that the consortium could still steer the project in new directions, but only within the framework of the 2019 agreement. He stressed the importance of focusing on the substance of these developments and preparing for the gas’s entry into international markets rather than engaging in public discourse at this juncture.
Addressing the ongoing dispute with Israel over “plot 12,” which shares a small gas field with Aphrodite, Papanastasiou expressed optimism. He anticipates that the differences between Cyprus and Israel will be resolved within three months, dispelling concerns about any significant difficulties.
Furthermore, the minister revealed that Eni’s CEO plans to visit Cyprus soon, a trip that is expected to clarify the Italian company’s intentions regarding the development and production plans for the “Kronos I” and “Kronos II” fields. This visit could potentially open new chapters for Cyprus’s energy exploration and exploitation efforts.
As Cyprus moves forward with its energy ambitions, these developments represent crucial milestones in harnessing the country’s natural resources and positioning itself as a key player in the Mediterranean energy landscape.
