Cyprus in talks with energy giants to allocate remaining natural gas exploration blocks
The Cypriot government is engaged in discussions with major energy companies to allocate rights for exploring and drilling natural gas in unreserved blocks within its exclusive economic zone (EEZ). President Nikos Christodoulides emphasized that these efforts are part of a wider regional cooperation involving Egypt and Israel to establish an alternative energy corridor for Europe.
The initiative aims to enhance Europe's energy security, a priority that has gained urgency following recent geopolitical developments. Cyprus is also advancing plans for a natural gas liquefaction terminal in Vasiliko, with the tender process underway despite previous delays caused by contract disputes with the CPP-Metron Consortium.
The EEZ currently sees Eni and Total holding rights to Blocks 6, 7, 8, and 11, while Block 12 is shared by MOL, Chevron, and NewMed Energy. Licenses for Blocks 2, 3, and 9 expired last year after exploration efforts failed to yield promising results, and the government continues to seek new partnerships to maximize the zone's resource potential.
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