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
Storage fundamentals turn
20 October 2017
A shift in most oil markets from contango to backwardation is changing the outlook for the global storage business
Electric charge for EVs in Norway
18 October 2017
The electric vehicle market is expanding rapidly in Europe but a lack of sufficient infrastructure remains a problem. Christina Bu, Secretary General of the Norwegian Electric Vehicle Association explains all
Russia's LNG threat boosts export liberalisation prospects
17 October 2017
Don't expect the market to be freed up anytime soon, but Russia is at least thinking about busting Gazprom's monopoly on pipeline gas supply