Energy Minister and ENI senior officials discuss exploration activities in Cyprus’ EEZ

Cyprus Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrpypis discussed yesterday with ENI`s three Vice Chairmen over the way forward with regard to exploration activity in Cyprus` Exclusive Economic Zone.
Reliable sources told CNA that the meeting which took place yesterday in Nicosia also focused on the possible hydrocarbon reserves and the cooperation programmes between ENI and Cyprus, as the Italian energy giant is expected to begin exploration acticvities by the end of summer. An ENI/KOGAS consortium has been awarded contracts over Cyprus` blocks 2,3 and 9.
Furthermore, according to the same sources there is movement in the field of energy following the visit of US Vice President Joe Biden, whose statements were described as vote of confidence to Cyprus and its role in the energy prospects in the region.
The US, sources told CNA, believe that Cyprus should have a place in any cooperation that may take place in the region on energy issues and, as Biden remarked during a meeting with Cypriot expatriates in the US, no cooperation between Egypt, Israel and Lebanon can take place without Cyprus.
In this context, the US is believed to describe the invitation to Cyprus President Nicos Anastasiades to attend the Egyptian President Abdel Fattah Al Sisi swearing in ceremony as positive, since Egypt is considered as a key country with regard to energy issues.
Moreover, an Israeli high ranking official is expected to visit Cyprus with the aim to yield concrete results and in that context announcements are expected to be made.
Cyprus` aims to construct a Natural Gas Liquefaction Terminal which can be sustained with Cypriot natural gas reserves and if that is not possible to hold cooperation with countries in the region.
So far Cyprus has singed contracts with US Noble Energy on block 12, while contracts have also been signed with French energy giant TOTAL on blocks 10 and 11. Italian heavyweight ENI and KOGAS were given concessions over block 2 and 3 and 9. Exploration activity in block 12 revealed an estimated gross mean resources of 5 trillion cubic feet (tcf).