Cyprus LNG a step closer

Noble Energy and its block 12 partners are in negotiations with Cyprus’ government concerning an LNG project that would be supplied gas from the deepwater Aphrodite discovery.

Offshore staff

TEL AVIV, Israel – Noble Energy and its block 12 partners are in negotiations with Cyprus’ government concerning an LNG project that would be supplied gas from the deepwater Aphrodite discovery.

According to partner Delek Group, the agreement – if and when signed – would set out terms for the development and commercial structure of the resultant LNG, as well as further conditions. These could include involvement of third parties that might participate, and expansion of the LNG project for discoveries in other licenses awarded either offshore Cyprus or in neighboring countries.

Block 12 partners are Noble Energy 70%, Delek Drilling 15%, and Avner Oil Exploration 15%.

According to reports elsewhere, Cyprus’ government wants to build an LNG plant to exploit the discovered gas reserves off the island’s southwest coast, with construction starting in 2016. Total has also reportedly signed a memorandum concerning a second LNG production train.

6/28/2013

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