NewMed Energy: Plans to connect Aphrodite gas field with Egypt
08:05 - 01 June 2023
NewMed Energy, one of the partners in the offshore Aphrodite natural gas field, said that a development plan has been submitted for approval by the Cypriot government to connect the deposit to a processing and production facility in Egypt, via a subsea pipeline.
Delegates from NewMed, along with Chevron and Shell, met with the Cypriot Energy Minister earlier this week to discuss the plans. "The updated plan is expected to accelerate and reduce the cost of development," NewMed said, according to a report in Reuters.
The Aphrodite natural gas field, located in Block 12 of Cyprus’ exclusive economic zone, is located 160 km south of Limassol, and 30 km northwest of the Leviathan field.
NewMed has a 30% stake in the field, while Chevron and Shell each hold a 35% share.
Chevron said in a statement that it was "currently working to progress the Aphrodite project".
"Beyond this, it is not our policy to comment on commercial matters," it said.
(Source: Reuters)
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