LNG ter­mi­nal in Cairo talks?

Financial Mirror (Cyprus) - - FRONT PAGE -

The is­sue of fu­ture Cyprus nat­u­ral gas ex­ports be­ing piped to a liq­ue­fac­tion plant in Egypt will prob­a­bly top the agenda of the min­isum­mit in Cairo on Satur­day, fol­low­ing con­fir­ma­tion by the lead­ing ex­plo­ration company in the area that out­put from off­shore gas­fields can­not sat­isfy a land-based ter­mi­nal on the is­land.

John Tomich Gen­eral Man­ager Cyprus of Noble En­ergy, op­er­a­tor of the Aphro­dide gas­field in the Cyprus ex­clu­sive eco­nomic zone (EEZ), told the Economist Con­fer­ence in Nicosia that “LNG re­quires a lot of gas and is very ex­pen­sive, it is prob­a­bly the most ex­pen­sive op­tion.”.

Right now, he said, “we don’t have enough gas in our opin­ion to un­der­take such a project so we are look­ing at the rest of the projects in­clud­ing float­ing LNG, CNG (com­pressed nat­u­ral gas), and then the things that look the most com­pelling right now are re­gional pipe­lines”. Although Noble has signed an MoU to ex­plore the idea of a land-based liq­ue­fied nat­u­ral gas plant, Tomich has on sev­eral oc­ca­sions in the past sug­gested the pipe­line route as a more vi­able prospect for Cyprus, which, in any case, can­not be pro­duced be­fore 2019 at the ear­li­est or 2020.

Tomich told the Economist con­fer­ence that “there is a good prob­a­bil­ity in our opin­ion that there will be more gas found in Cyprus both by us and by other op­er­a­tors”.

He re­marked that if a project is ex­e­cuted on time and within bud­get “you max­imise the chance of com­ing out with a suc­cess­ful project”.

Tomich also said that ad­di­tional drilling in 2015.

Ital­ian-Korean joint ven­ture ENI-Ko­gas is al­ready drilling its first ex­plo­ration well, while French To­tal is ex­pected to follow in early 2015.

Noble

plans

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