DEFA: No agreement on terms for short term gas supply

The Natural Gas Public Company (DEFA) has announced that it has been unable to agree terms for a short term supply of gas (Intermediate Solution) at Vasilikos Power Station in Cyprus with any of the respondents to the Request for Proposals (RFP).

According to a DEFA press release, its Board of Directors decided at a meeting on Monday that the RFP process has been concluded. DEFA has notified all respondents to the Expression of Interest (EOI) and RFP accordingly, it is added.

"The Natural Gas Public Company (DEFA) announces that following the issue of anExpression of Interest dated 27 September 2012 (EOI) and a Request for Proposalsdated 4 January 2013 (RFP) in respect of the short term supply of gas to DEFA at Vasilikos Power Station in Cyprus, DEFA has been unable to agree terms for a gassupply with any of the respondents to the RFP," the press release said.

Cyprus entered the natural gas scene in late 2011 when exploratory drilling in Cyprus` block 12 carried out by Huston-based Noble Energy revealed a gross resource range of 5 to 8 trillion cubic feet (Tcf), with a gross mean of 7 Tcf." `Noble Energy operates Block 12 with a 70 percent working interest. Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership each own 15 percent.