Cyprus renews efforts to extract natural gas as shortages loom in EU

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Overseas staff

NICOSIA – Cyprus expects natural gas from its seas to become commercially available by 2027, its energy minister said on Oct. 7, adding that the energy crisis in Europe has put a spotlight on the way to accelerate the development of reserves in the eastern Mediterranean, according to a Reuters report. .

The island nation, an EU member, reported its first discovery in 2011 and the most recent in August. Quantities still need to be extracted.

“With the most recent discovery and the numbers we have, we have around 12 to 15 Tcf of natural gas potentially available for EU supply,” Energy Minister Natasa Pilides said. “We have started a discussion with the energy commissioner… about how we can speed up the process of developing and using our own natural gas,” she told Reuters in an interview.

Cyprus has a cluster of 13 offshore blocks bordering the south of the island, most of which are licensed. Partners in its earliest discovery, in 2011 of Aphrodite, plan to drill early next year to confirm earlier estimates of around 4.5 Tcf.

Authorities expect Aphrodite’s gas to be commercially available in 2027. One of the main delivery scenarios in this case is gas delivered to LNG infrastructure in Egypt.

An additional scenario in the case of other discoveries nearby is to establish a floating LNG facility that would liquefy the gas to transfer it to ships for export, said Pilides, whose portfolio also covers trade and industry. .

“The idea is to find synergies between companies operating in neighboring plots so that we can have a plan on how to build infrastructure, which can be completed in a short time,” Pilides said.

Recent developments in Cyprus

In August, Eni and its partner TotalEnergies made a potentially significant gas discovery in the deep offshore of Cyprus. Cronos-1 is the second proven gas field in Block 6, following Calypso-1 in 2018, and Eni’s fourth to date offshore southwestern Cyprus. The well was drilled 160 km offshore in 2,287 m water depth. Early analyzes suggest around 2.5 Tcf of gas in place, with a significant additional benefit that warrants a follow-up exploration well in the area, Eni said.

In July, Chevron and the Cypriot Ministry of Energy, Trade and Industry of the Republic of Cyprus affirmed their joint commitment to the viable development of the Aphrodite deepwater gas discovery offshore from southern Cyprus. The plan called for the drilling of a new well, within the overall framework of the approved development and production plan for the field.

10.07.2022


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