Tagsnatural gas

Games of history: a solution would suit us now

By Loucas Charalambous 12/05/13
 THE CONDITIONS created by developments in the last 12 months - the discovery of natural gas deposits and the bankruptcy of the Cyprus Republic - have given rise to suggestions that now is the right time for a settlement of the Cyprus problem.Of course when someone talks about a settlement he should bear in mind that the discussion is academic, because the Greek Cypriots do not want to hear about it. They have come to terms with partition, which they consider the best settlement. ... 9 comments

US keen to help ‘unfreeze’ Cyprus conflict

By Stefanos Evripidou 11/05/13
 THE ECONOMIC crisis could “open up” opportunities to end the frozen conflict on the island, said US Secretary of State John Kerry yesterday, adding that hydrocarbon prospects in Cyprus’ exclusive economic zone (EEZ) could be a part of that solution.   Foreign Minister Ioannis Kasoulides, in Washington to meet his American counterpart, countered that the three issues- economic crisis, gas and the Cyprus problem- were separate issues that could, however, be developed in parallel. ... 13 comments

Gas now cornerstone of state’s policy

By Elias Hazou 10/04/13
DEBT-STRICKEN Cyprus is pinning its hopes for economic recovery on the potentially vast reserves of offshore natural gas, President Nicos Anastasiades said yesterday.“Taking into consideration the difficulties that we now face due to the economic crisis, the prudent exploitation of the domestic hydrocarbon resources has been set as the cornerstone of our policy.“In fact, the energy sector of Cyprus shapes up today as the key towards the achievement of our goals for economic resurgence and growth and the creation of new jobs,” the President said in an address to the Eastern Mediterranean Gas Conference... 7 comments

Appraisal drilling at Aphrodite well in June

By Elias Hazou 09/04/13
NOBLE Energy will commence appraisal drilling at the Aphrodite well in June, the executive vice chairman of the state hydrocarbons company Solon Kassinis has said.The former energy chief appeared bullish yesterday, asserting also that the evaluation of the appraisal - revealing the precise quantities of gas within the prospect - should be completed sometime in the autumn.Kassinis said a number of foreign companies are expressing an interest in investing in a planned LNG plant on the island.Japan’s Mitsui was interested in both co-financing the project as well as purchasing gas, he said.But, he warned, Cyprus needs to get its act together fast if it is to attract project partners... 3 comments

Industry leaders gather for major gas conference

06/04/13
TOP oil and natural gas professionals and executives, along with companies behind the planning and development of the region’s natural gas industry will gather in Nicosia between Monday and Wednesday Noble Energy, is the lead sponsor for Gulf Publishing Company’s inaugural Eastern Mediterranean Gas Conference (EMGC) at the Hilton. Charles D. Davidson, Noble Energy chairman and CEO, will be one of the speakers. “Far more than providing tremendous business and growth opportunities for the oil and natural gas industry, the abundance of natural gas resources recently discovered offshore Cyprus and Israel have the potential to forever alter the energy-security and economic landscape of the entire Eastern Mediterranean region,” he said... 3 comments

Turkey sees three alternatives for Cyprus, all involving gas

29/03/13
TURKISH Foreign Minister Ahmet Davutoglu has proposed three alternatives to end the stalemate in Cyprus, all involving the exploitation of natural gas around the island. According to Turkish channel NTV, the Turkish minister said he has proposed three alternative endings for the Cyprus problem. Either the two communities form a united Cyprus state and jointly exploit the natural resources around the island, or, in parallel to ongoing peace negotiations, Greek Cypriots and Turkish Cypriots form a joint committee to exploit and market natural gas. The third option is a two-state solution on the island. ... 15 comments

Turkey and Israel change the gas game

By Stefanos Evripidou 25/03/13
THE US-brokered Israeli apology to Turkey has opened the door to the resumption of close relations between the two former allies and raised the prospect of energy collaboration in the eastern Mediterranean, raising questions as to the potential impact on Cyprus’ own gas plans.   Last Friday, Israeli Prime Minister Benjamin Netanyahu expressed Israel’s apology to Turkish Prime Minister Tayyip Erdogan “for any mistakes that might have led to the loss of life or injury” during the raid on the Turkish ship Mavi Marmara, which tried to reach Gaza in 2010, resulting in the death of nine Turkish activists.The next day, Erdogan said Israel’s apology highlighted Turkey’s growing regional clout... 12 comments

‘Gas for export now much more urgent’

By Peter Apps 15/03/13
 CYPRUS, urgently needing revenues from its newly found natural gas reserves, hopes to begin exports by 2018 and will target sales at fellow European Union members, its energy minister said.George Lakkotrypis also said gas could be sold in advance or used to help the government, which is now negotiating a multibillion-dollar bailout, to issue new debt on international markets in future.US company Noble Energy and the Cypriot government announced in 2011 that they had discovered gas deposits of around 7-8 trillion cubic feet (200 billion cubic metres), 40 per cent of the EU's annual demand... 10 comments

Talks to begin on interim gas supply

02/03/13
THE NATURAL Gas Public Company (DEFA) is due to begin discussions next week with one of three companies interested in supplying Cyprus with natural gas until the island can start bringing in its own supply. Three companies have been selected for the final stages of an evaluation procedure for beginning to supply gas by early 2015 through to September 2018. Head of DEFA Costas Ioannou said that the financial aspects of the bids would be examined next Wednesday by the board if all other requirements were met. “If they do not fulfil all the other requirements, there is no reason to know what price a company set,” Ioannou said... 3 comments

Gas: assessing future scenarios

28/02/13
THE EXPLOITATION of Cyprus’ natural gas will depend to a large degree on factors out of its control, including developments within Israel but also in Israeli-Turkish relations, according to new research presented yesterday.The study also highlights that Cyprus could generate an extra €15 billion in net revenue if it supplied its gas to markets via a pipeline to Turkey rather than from a Liquefied Natural Gas (LNG) plant. The latest report, titled ‘The Cyprus Hydrocarbons Issue: Context, Positions and Future Scenarios”, by Ayla Gόrel, Fiona Mullen and Harry Tzimitras, and published by the Cyprus Centre of the Peace Research Institute Oslo (PRIO), was presented at the Home for Cooperation in the buffer zone last night. ... 7 comments
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