Now is the time to move decisively from planning to implementation, maintaining the momentum and accelerating the next steps in developing the Aphrodite gas field, President Nikos Christodoulides said late on Tuesday.

Christodoulides met with Chevron’s Base Assets and Emerging Countries chairman Javier la Rosa, saying that this was an issue of “strategic priority” for Cyprus and that significant progress had already been made.

Government spokesman Konstantinos Letymbiotis said the meeting confirmed the shared commitment to promote the development of the deposit, based on an approved development and production plan.

He said Christodoulides and la Rosa also discussed the course of technical and commercial works, as well as the next steps towards taking a final investment decision.

“The president of the Republic underlined the importance of maintaining the dynamic and accelerating the timeframe, to take a final investment decision the soonest possible and start producing natural gas,” Letymbiotis said.

They furthermore referred to the strategic importance of energy cooperation between Cyprus and Egypt, and the progress made towards utilising natural gas from Aphrodite gas field through Egypt’s infrastructure.

“This development creates substantive prospects for the commercial utilisation of deposits in Cyprus’ exclusive economic zone and enhances regional energy planning and interconnectivity in the eastern Mediterranean,” Letymbiotis said.

During the meeting, Christodoulides confirmed Cyprus’ readiness to continue working closely with Chevron and all involved partners in order to facilitate the next steps forward and maintain the momentum of the project’s implementation.

“The successful development of Aphrodite will constitute an important milestone for Cyprus, at the same time strengthening the role of the eastern Mediterranean in the European energy planning and energy security,” Letymbiotis added.