Unlocking Cleaner Energy for the Region, for Europe & Beyond
A STRATEGIC NATURAL GAS & HYDROCARBON ENERGY PARTNER FOR THE EMEA REGION
The IEA – International Energy Agency has once again confirmed that natural gas demand will continue to increase on a global level by nearly 15% by 2030, replacing coal and oil and complementing renewables as the world transitions towards a more sustainable and cleaner energy mix.
Regional energy activities are gathering pace. In Cyprus the Aphrodite project is progressing towards exploitation with a pipeline export route to Egypt. Other discoveries will be undergoing appraisal with more exploration in the pipeline. Cyprus’ gas import FSRU project is well underway with commissioning and operations set to begin in 2022. Israel and Lebanon will be progressing with further licensing rounds for their offshore acreage. In Israel the Karish project is progressing toward first gas in 2022, with further projects such as Leviathan phase 2 being evaluated for sanction. Egypt continues to open up more acreage for licensing, and is bringing new gas projects on line. We have also witnessed the recent ramping up of exports from Egyptian LNG liquefaction facilities. In Greece new seismic surveys are imminent in its southern unexplored acreages. Also in Greece the new LNG import facility in Alexandroupolis is progressing which will add further critical energy infrastructure to the region.
Further regional initiatives such as the EU supported EuroAsia and EuroAfrica electrical interconnectors and the East Med Pipeline projects are also making significant advances towards implementation.
Cyprus is at the heart of these regional developments and is fast developing as a hub for support of regional projects.
THE KEY GLOBAL & REGIONAL ENERGY STAKEHOLDERS OPERATING IN THE EASTERN MEDITERRANEAN REGION:
CYPRUS LOOKS SET TO BECOME THE SUSTAINABLE ENERGY HUB AND GLOBAL PARTNER FOR THE EASTERN MEDITERRANEAN
With so many exciting new discoveries in the Eastern Mediterranean basin; the strategically located island of Cyprus is poised to become a sustainable gas, offshore and energy partner for its European partners. Coinciding with a number of extensive new offshore discoveries the conference has attracted a large number of technical and commercial papers from some of the leading players in the global energy industry.
In recent developments, the Cypriot Ministry of Energy, Commerce & Industry stated that it will continue to grant more concessions to energy companies to begin offshore drilling at a number of separate sites. Taking place over the next few years, natural gas will be prospected and assets developed in the waters off of the southern coast of Cyprus.