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Saturday, October 1, 2016

Cyprus Ready to Accept Bids for 11 LNG Exploration Blocks

February 8, 2007

Cyprus is ready to launch its first international offshore bidding round for 11 southern exploration blocks for liquefied natural gas (LNGLF) (LNG) next week, despite Turkey’s efforts to create tension in the area with war games in an effort to fend off potential bidders for the project. The first round for the submission of applications for tenders for research and hydrocarbon exploitation will begin on February 15 and end on July 16. The whole procedure is expected to be concluded by Autumn.

The government of Cyprus has rejected protests by Turkey over the maritime economic zone agreement signed with Lebanon last month to delineate the exploration borders of each country. A similar agreement was signed with Egypt two years ago that also irked Ankara that claims Cyprus cannot sign any natural resources agreement without the consent of Turkey (as a guarantor of the 1960 independence) nor without the consent or the Turkish Cypriot community in the north, which Turkey regards as “isolated” by the Greek Cypriot government. Source: Xpress



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