Cyprus to start negotiations over LNG terminal

The Council of Ministers of Cyprus has given the green light to a specialized team to start negotiations with Eni-KOGAS consortium and Total of France with the aim to reach agreements on LNG developments. 

Eni-Kogas consortium has signed a contract for hydrocarbons exploration in blocks 2, 3 and 9 within Cyprus’ Exclusive Economic Zone while Total signed a contract for hydrocarbons exploration in blocks 10 and 11.

Negotiations are directed at reaching an agreement regarding the construction and operation of a Liquefied Natural Gas (LNG) terminal in Vasiliko, said the Ministry of Commerce, Industry and Tourism in a statement.

The LNG plant to be built in Vasilikos will initially process not only its own gas, but also the supplies from Israel and potentially Lebanon.

LNG World News Staff, August 25, 2014; Image: mcit.gov.cy