Published On: Fri, Nov 8th, 2019

Greek Cypriots sign operation agreement for natural gas in Eastern Mediterranean



The Greek Cypriot administration signed a 25-year operating worth USD 9 billion 3 million permit agreement with the consortium companies Noble Energy, Shell and Delek for the region, which is named as ‘Aphrodite’ in the 12th parcel in the “Exclusive Economic Zone” (MONE) which it declared unilaterally. Hasan TACOY, Minister of Economy and Energy for Turkish Republic of Northern Cyprus reacted strongly to Greek Cypriot Administration signing agreements with American, Israeli, British and Dutch companies on the natural gas business.

Natural gas in the Aphrodite region will be transferred to Egypt’s Idku LNG facility by pipeline where it will be liquefied and exported to European and international markets. A press conference and a signing ceremony were held regarding the operation permit for the natural gas. Greek Energy Minister George Lakkotripis and Noble Energy, Shell and Delek executives attended the signing ceremony. The US, UK and Israeli ambassadors in Southern Cyprus also supported the signing ceremony.

Speaking at the signing ceremony, Greek Energy Minister Lakkotripis said, “Our energy program is moving on to the next stage of completion of the hydrocarbon chain.” Lakkotripis said that the Greek Cypriot side has moved from border delineation to licensing, research and exploration and now to the operational stage.

The Greek Cypriot Minister, who argued that the Greek Cypriot side would become both the natural gas producer of the European Union (EU) and the source for alternative energy also said a determined step was taken regarding implementation of the common vision of the countries in the region to create an “Eastern Mediterranean Natural Gas Corridor” for Europe.

Turkish Republic of Northern Cyprus (TRNC) Minister of Economy and Energy Hasan TACOY on the other hand reacted strongly to Greek Cypriots signing agreements with American, Israeli, British and Dutch companies on the natural gas operation. “The signatures will not serve peace in Cyprus,” he said.





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