The European Union is a strong believer and supporter of the Eastern Mediterranean’s energy prospects, a senior official told a conference in Nicosia.
Anne-Charlotte Bournoville, head of the International Relations and Enlargement Unit of the EU Commission’s DG Energy described natural gas discoveries in the region as “a game-changer” for Cyprus, Israel and Egypt.
“The EU has been a strong believer in Eastern Mediterranean gas and a strong supporter for many years,” she told the International Association of Oil and Gas Producers conference.
She added: “We made Eastern Mediterranean gas one of the main pillars of our diversification strategy, together with the southern gas corridor.”
Bournoville said discoveries in Cyprus, as well as Egypt’s Zhor “create opportunities for countries in the region to resolve the energy security needs and a catalyst for regional cooperation since to fully benefit from the gas potential they have to cooperate and work together to ensure competitiveness.”
“We indeed highly value the gas supplies in the region as a future new source of gas supply which can make a valuable contribution to our energy security and diversification policy.”
Cypriot Energy Minister George Lakkotrypis said following the discovery of Aphrodite, “Cyprus is currently preparing for an extensive exploration programme that will probably take us 24 months to complete”
“We hope that it would generate even more discoveries than we have so far,” he added.
On Aphrodite, Lakkotrypis said the government is in the process of agreeing on the development plan with the gas field’s consortium to be followed by the issuance of exploitation licenses “for transporting this gas via pipeline to Idku, an LNG terminal, where we anticipate we will receive very competitive tolling prices.”
He did not overrule the construction of an LNG plant in Cyprus or a floating LNG, while he described the East Med pipeline project whose feasibility study is funded by the EU, as ambitious.
“We are undergoing the Front-End Engineering and Design which will hopefully show how competitive or not the pipeline would be.”
On Turkey’s illegal moves in Cypriot waters, Lakkotrypis said Ankara’s moves have escalated.
He refuted Turkey’s argument that it is protecting the rights of the Turkish Cypriots, stressing that under Ankara’s view of its continental shelf there would be no gas fields left for Greek Cypriots and Turkish Cypriots to share.
“If we accept this version, Cyprus would be left with 31% of what our EEZ is. It also means that all of the discoveries so far will all fall in different countries.”
Samy Revel, the Israeli Ambassador to Nicosia said, “Cyprus is not only our closest neighbour in the EU but a natural partner in the development of natural gas.”
He said recent discoveries in Cyprus, together with those of Israel, Egypt and other countries could create a reservoir, which would justify big projects in the region.
Mai Taha Khalil, Ambassador of Egypt to Cyprus said her country has extensive gas and oil infrastructure, adding that “soon we will have the pipeline between Egypt and Cyprus.”
“This vision for cooperation in the Eastern Mediterranean, among different peoples and different countries has the necessary mix, that is, the common economic interests, common rules shaped by the EU and the vision for the future prosperity and prospects,” said Cypriot MEP Costas Mavrides.
