Hopes to export gas to Egypt fading as oil prices remain low, Lakkotrypis says

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Hopes to export gas to Egypt fading as oil...
 © BusinessMail 2017
By Stelios Orphanides

Energy Minister Yiorgos Lakkotrypis said that the development of the Aphrodite field, Cyprus’s first natural gas find, hangs in the balance as the current energy prices seem prohibitive for the investment required to export gas to Egypt.

The minister, who was commenting on state radio CyBC on Wednesday, a day after he announced that the latest drilling by the consortium of France’s Total and Italy’s Eni discovered less than 1 trillion cubic feet (tcf) of natural gas in block 11 of the Cyprus exclusive economic zone (EEZ), said that negotiations with the Arab...


Hopes to export gas to Egypt fading as oil prices remain low, Lakkotrypis says


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