Cyprus Okays Gas Plant Deal With Noble, Delek (Israel)

Associated Press via ABC ^ | June 19, 2013 | AP - Nicosia Cyprus

[haffast]

Cyprus' deputy government spokesman says the Cabinet has ratified a preliminary agreement with U.S. firm Noble Energy and its Israeli partners Delek Drilling and Avner Oil Exploration on their participation in the development of a planned natural gas processing facility.

Victoras Papadopoulos didn't disclose Wednesday details of the deal. Cyprus is looking to have the estimated 10 billion euro ($13.41 billion) facility up by 2020 to process offshore gas reserves for domestic use and export. The bailed-out country hopes the project will boost its struggling economy.

Noble, Delek and its subsidiary Avner are partners in a gas field off Cyprus' southern coast that's estimated to contain 5-8 trillion cubic feet of gas.

snip

[haffast]

Cyprus Approves LNG Terminal Deal With Noble, Delek, Avner
By Paul Tugwell - June 19, 2013
http://www.businessweek.com/news/2013-06-19/cyprus-approves-lng-terminal-deal-with-noble-delek-avner

Govt. gas export decision unlikely to satisfy everyone — or anyone (Israel)
June 19, 2013, 9:45 pm | David Shamah
http://www.freerepublic.com/focus/f-news/3033395/posts

[SunkenCiv]

Thanks haffast. The thing I love about the eastern Med is, no matter how messy things get, they can always get messier.

[Ernest_at_the_Beach]

This could be a Big Deal!

[SunkenCiv]

Thanks Ernest, in the greater schemes of all things Middle Eastern, it doesn’t look like anyone else on FR even cared. :’)