Energy Minister Announces Cyprus Will Earn $9.4 Billion From ”Aphrodite” Deposit

George Lakkotrypis, the Energy Minister for Cyprus, announced on Wednesday that  Cypriot  authorities have signed a preliminary agreement with energy companies Shell, Delek and Noble, which will be extracting natural gas and oil from the deposit dubbed ”Aphrodite.”

Lakkotrypis explained that the agreement has been worked out using three basic scenarios regarding the amount of money Cyprus and the companies will earn: One with a low global oil price, one with a mid-level price and one with the most expensive rate.

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Energy Minister Announces Cyprus Will Earn $9.4 Billion From ”Aphrodite” Deposit


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Article Tags: energy, minister, announces, cyprus, billion, aphrodite, deposit,