{"id":305757,"date":"2025-12-08T21:43:16","date_gmt":"2025-12-08T21:43:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/305757\/"},"modified":"2025-12-08T21:43:16","modified_gmt":"2025-12-08T21:43:16","slug":"chevrons-presence-a-vote-of-confidence-in-cyprus-and-europes-energy-potential","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/305757\/","title":{"rendered":"Chevron\u2019s presence \u2018a vote of confidence\u2019 in Cyprus and Europe\u2019s energy potential"},"content":{"rendered":"

The presence of American multinational energy corporation Chevron in Cyprus\u2019 maritime exclusive economic zone (EEZ) constitutes a \u201cvote of confidence\u201d in the energy potential of both Cyprus and Europe, President Nikos Christodoulides said on Monday.<\/p>\n

\u201cWe appreciate your presence. It is a strong vote of confidence, not only for us, but also for Europe and the possibility of the region developing as an alternative source of energy for Europe,\u201d he said during a meeting with the chief of Chevron\u2019s base assets and emerging countries organisation Javier La Rosa at the presidential palace.<\/p>\n

He added that there have been \u201cmany developments in the energy sector\u201d since Christodoulides and La Rosa last met in New York in September, and said to this end that \u201cwe must complete with Egypt what is pending as soon as possible so that we can start using the Aphrodite field\u201d.<\/p>\n

Chevron is one of the signatories to an agreement<\/a> signed by the governments of Cyprus and Egypt which established \u201cthe framework for the effective commercialisation\u201d of the gas in the Aphrodite gas field, which is located in Block 12 of Cyprus\u2019 EEZ.<\/p>\n

Last month, Cyprus\u2019 then energy minister George Papanastasiou said that a \u201ctechno-economic study<\/a>\u201d on Block 12 is being prepared and will be submitted by the end of next year.<\/p>\n

After that study is complete, he said, a final investment decision will be made and gas from the Aphrodite field will be transported to the Segas liquefied natural gas (LNG) terminal in the Egyptian port city of Damietta for liquefaction.<\/p>\n

Seabed surveys to find a sinking point for the pipeline which will take natural gas from Cyprus\u2019 EEZ to Egypt for liquefaction\u00a0began in June<\/a>, with the initial aim being for natural gas from the Aphrodite gas field to be taken to Damietta.<\/p>\n

In September, members of the Egyptian government travelled to Nicosia and announced that\u00a0natural gas from Cyprus\u2019 EEZ will be exported to\u00a0Europe via Egypt in 2027<\/a>.<\/p>\n

Natural gas is also expected to be transported to Damietta from Block 6 of Cyprus\u2019 EEZ, which contains the Kronos gas field, with the Egyptian government having in February been designated as the \u201chost government<\/a>\u201d of the Block.<\/p>\n

Papanastasiou had earlier said that the agreements over both Block 6 and Block 12 \u201ccover the entire supply chain\u201d from the liquefaction of the natural gas, which will take place in Damietta, through to the export of the LNG to Europe.<\/p>\n

Egyptian Petroleum Minister Karim Badawi had in September expressed his country\u2019s will for further cooperation between Cyprus and Egypt on the matter of energy.<\/p>\n

\u201cOur cooperation in the energy sector with the Republic of Cyprus is very important and is expanding daily. We are here to support the Republic of Cyprus in the full development of its energy reserves, so that it can exploit them and make them available to its citizens and to European markets which need energy,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"The presence of American multinational energy corporation Chevron in Cyprus\u2019 maritime exclusive economic zone (EEZ) constitutes a \u201cvote…\n","protected":false},"author":2,"featured_media":305758,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-305757","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/305757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=305757"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/305757\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/305758"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=305757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=305757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=305757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}