22287 - One catalytic agreement for the future of Cyprus

N. Lygeros
Translated from the Greek by Angeliki Papadopoulou

While the Aphrodite reserve is commercial, we are having the impression that the developments were moving slow especially from the part of Noble Energy. In reality, due to the size, this company should create an allied framework for the reserve utilization, because it was unable to do it by itself. The other significant delay concerns the terminal of Cyprus. This means for Noble a phase change because of the reserve’s distance from the stations of Egypt. The discovery of the Zor reserve had strengthen this change. Now the BG company which is already playing in Egypt, found the right time to get involved in this case. And this means that we won’t have any more delays either because of technical infrastructures or of financial resources. For Cyprus, it is a huge breath at the time that many Cypriots didn’t know what and who to believe. They all talked about lack of interest due to misery, but now the things have changed not radically since we continue in the same grand strategy but in an innovative way. So, we can overcome all the previous obstacles and think about the prospects, because the agreement doesn’t evolve only the Aphrodite reserve, but the block 12 too and we know it, because we have already presented the specific maps that show that other reserves exist in this area. So, by the strengthening of BG, these prospects can become true and in fact much sooner than the first estimations, because here the dynamics which the whole case gained, actually is working catalytically for whole Cyprus.