Related Articles
Forward article link
Share PDF with colleagues

Cyprus dreams again

Developers working offshore the island think they may be about to unlock vast new reserves. Taking them to a depressed market will be much harder

Cypriots are hoping that 11 turns out to be their lucky number, having become disillusioned with 12, their previous favourite. Total, with Eni recently farming in as a half-share partner, will later this year begin drilling in Cyprus's offshore Block 11. While the island's 2011 discovery and big hope at the time, the Aphrodite gasfield in Block 12, still awaits development, the belief now is that a major find in Block 11 will finally kick-start Cyprus's energy sector and energise the entire East Med. Expectations are high because Block 11 borders Egypt's Shorouk concession, where Eni in 2015 discovered the supergiant Zohr field, with reserves of 30 trillion cubic feet of natural gas, eclip

Also in this section
Qatar hits the gas
8 December 2017
Despite, or perhaps because of, the economic blockade, Qatar plans to expand LNG production by 30%
Cove Point boosts US LNG exports
7 December 2017
A second facility will start supplying the fuel to international markets as American liquefied gas shipments gather pace
Latin America's LNG slowdown
7 December 2017
A few years ago, gas exporters thought the Southern Cone would become a huge new market. Not likely