Cyprus LNG Terminal Non-starter?
Cypriot President Nicos Anastasiades has said that building an LNG terminal in Cyprus will depend on discoveries and the results of the country’s third licensing round.
Discussing the Cyprus Exclusive Economic Zone’s third licensing round, Anastasiades said that the construction of an LNG terminal in Cyprus - and Cyrpus’ consequent conversion into an energy hub – would rely upon the results of ongoing research programmes or new licenses.
As for the new licences mentioned, Anastasiades referred to the third offshore licensing round for hydrocarbon exploration the country launched on March 24, 2016. Three blocks are open for licensing, with the application deadline set for July 22, 2016.
An LNG plant was planned to be built in Vasilikos, processing not only its own gas but also the supplies from Israel and potentially Lebanon.
In January 2016, Cyprus extended the exploration phase for the Eni-Kogas consortium for an additional two years. Within the two years, the consortium intends to conclude studies aimed at identifying prospects necessary to complete the drilling obligations.
Cyprus government in June last year welcomed declaration of commerciality of the “Aphrodite” natural gas offshore field by the operator, Noble Energy.