Eni of Italy and Cyprus to Ink LNG MoU
Eni and Cyprus will soon sign a memorandum of understanding for the liquefaction terminal in Cyprus.
“The Memorandum is ready, it has been agreed on, and there are some formalities left, such as its approval by the Council of Ministers, so that we can proceed to its signing in the next few days,” the Cypriot minister of Energy Yiorgos Lakkotrypis said in a statement after a meeting with the high management of Eni.
“This Memorandum states the intention of the company to cooperate with the Government of Cyprus for construction of a terrestrial terminal in Cyprus. We also had discussions about the exploratory activities of the company for next summer,” the minister stressed.
Asked if there is a time reference point with regard to the construction of the LNG terminal, Lakkotrypis said that “for the terminal we are waiting for the discovery of more natural gas, so that we can proceed with this planning. The Memorandum includes a provision for the inclusion of ENI in the entire planning for the construction of the terminal. A similar agreement has been signed with Noble as well as with the French company TOTAL.”
Asked for his assessment as to what will be done on the part of Eni, the minister said that “the initial planning for the exploratory drillings was for the third and fourth quarters of 2014. ENI is now making a great effort to speed up and to begin the exploratory drillings toward the end of August of 2014, something that is very important because it will expedite the procedures for the discovery of more natural gas.”
LNG World News Staff, February 17, 2014; Image: mcit.gov.cy