The republic of cyprus: The Republic of Cyprus' energy programme remains on schedule, Energy Minister Michalis Damianos said, adding that first gas from the Aphrodite field is expected by the end of 2030 or in 2031.
According to Cyprus News Agency, Damianos addressed an announcement by NewMed regarding the signing of a memorandum for the sale of all recoverable natural gas volumes from the Aphrodite field to the Egyptian Natural Gas Holding Company (EGAS). He explained that NewMed was required to make the announcement due to its status as a publicly traded company.
Damianos elaborated that the agreement involves the development of the Aphrodite field, with plans to transport the gas to Egypt. This aligns with existing agreements between Cyprus and its partners. He emphasized that the energy programme is progressing as planned, with the final investment decision anticipated in January 2027. Chevron is also expected to make its final investment decision within the same year.
The Minister concluded by reiterating that the energy programme is on track, with expectations for first gas from Aphrodite by the end of 2030 or in 2031, and that all timelines are currently being met.