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14.03.2018

Lakkotripis on the plans of Shell in Cyprus

The energy company Royal Dutch Shell is interested in buying gas from the fields of Israel and Cyprus in the next ten years. This was announced by Bloomberg in late February, and 13 March, in the radio interview this information was confirmed by the Cyprian Minister of Energy, Trade, Industry and Tourism, Jorgos Lakkotripis.

According to Bloomberg, Shell is interested in acquiring from Israel and Cyprus 10 billion cubic meters. m of natural gas over the next ten years and is ready to pay for it more than 20 billion euros (25 billion dollars). It should be noted that Shell, together with the American Noble Energy and Israeli Delek Drilling, owns the concession rights to develop the Aphrodite deposit in the 12 section of the exclusive economic zone of Cyprus. She also operates a gas-fired plant in the Egyptian Idka, where it is planned to export Cyprus gas.

Cyprus "is close to concluding a deal," Lakkotripis said in connection with the negotiations on the sale of gas to one of the gas-fired plants in Egypt. However, the minister refused to disclose the details of this deal, noting: "The negotiations concern both terminals [Idku and Dumyat] and are at the final stage".

A source: Successful business

Tags: Cyprus, Economy, Gas