Cyprus and Israel to Resume Negotiations on Cross-Border Gas Reservoir in October
Cyprus and Israel will continue negotiations in the first half of October to reach an agreement over the cross-border gas reservoir between Cyprus’ Aphrodite field and Israel’s Ishai field, Energy Minister Michael Damianos announced. The talks aim to conclude the agreement before the end of October, involving technical teams, legal advisers, and operating companies from both countries.
The issue arises because the Aphrodite gas reservoir extends geologically across the maritime boundary into Israel’s exclusive economic zone, where the Ishai field is located. Aphrodite, situated in Block 12 of Cyprus’ exclusive economic zone, is operated by the US energy company Chevron.
Damianos previously stated that once an agreement with Israel is finalized, the government expects Chevron, Israeli firm NewMed Energy, and BG Group (owned by Royal Dutch Shell) to proceed with a final investment decision regarding Block 12 in 2024.
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