EU: Energy independence from Russia by switching to Cypriot natural gas

The European Union’s effort to become further independent of Russian natural gas reinforces the strategic importance of prospecting for fields in Cyprus, the country’s energy minister said.

“Europe is a good potential customer for Cypriot natural gas, as the EU has assured that natural gas will be a bridge fuel until 2049 as part of the green transition, so companies can now secure long-term contracts,” he said. Natasha Pilides in an interview. In addition, “the EU seeks to disengage from Russian supplies regardless of when the war in Ukraine ends,” she added.

As Bloomberg reports, Chevron, along with partners Shell and Israel’s Newmed Energy, has a permit to drill the Aphrodite field and plans to proceed with additional drilling in early 2023. The field in question is estimated to contain 4.4 trillion . cubic feet of natural gas and is located near the Leviathan field off the coast of Israel, which is jointly operated by Chevron and NewMed.

Chevron will present the final development plan for the Aphrodite field in Block 12 of the Cyprus EEZ by the end of 2022, with 2027 “being a realistic date for natural gas production”, Ms. Pilides stressed. The options include either connecting the Aphrodite field to existing infrastructure in the area, or a solution that would specifically connect Aphrodite to the Indku LNG terminal in Egypt.

Searches for natural gas continue in other Plots of the Cypriot EEZ. Next month, results are expected from the Total/Eni joint venture’s drilling in Block 6. The Exxon Mobil/Qatar Petroleum joint venture is starting seismic surveys in Blocks 5 and 10 that will be completed in early autumn.

Cyprus does not need much natural gas to meet domestic needs, which leaves more available for export. “Besides Europe, Asia is also a potential customer for Cypriot natural gas,” Ms. Pilides noted.

Proposal for pipeline

Cyprus is also positively considering the proposal of the Greek Energean to build a pipeline of approximately 200 kilometers from Israel to Vasilikos, Cyprus, as Ms. Pilides mentioned. Energean’s plan calls for the pipeline to be connected to a floating LNG plant, and exports are estimated at around 3.5 billion cubic meters per year.

Although clarifications are still needed on the amount of natural gas that the pipeline will transport, this proposal is another opportunity for Cyprus and the exploitation of Cypriot deposits, Ms. Pilides said, to conclude. “We hope that the 2026 timetable will be met.”