President discusses EastMed energy developments and Aphrodite with Chevron executives (video)

The President of the Republic, Nikos Christodoulides, discussed energy developments in the Eastern Mediterranean, focusing on the development of the Aphrodite field and its strategic importance for the Republic of Cyprus, in a meeting on Monday morning with Chevron CEO Mike Wirth and President of International Exploration and Production Clay Neff.

According to a written statement by Government Spokesperson Konstantinos Letymbiotis, "the conclusion of an agreement between the Republic of Cyprus and Chevron for the exploitation of the Aphrodite field, as well as the signing of an agreement with Egypt for the commercial development of the field's natural gas last February, are of strategic importance for our country."

As he said, President Christodoulides was informed about the commencement of seabed survey in early Summer, on the basis of the relevant timetable that was set for the placement of a pipeline between "Aphrodite" and a landing point in Egypt, while at the same time, during the meeting, the procedures that Chevron is progressing were discussed, following the approval by the Republic of Cyprus of the Development and Production Plan, for the implementation of the agreed terms and for the Host Government Agreement that will be concluded with Egypt following the signing of the relevant Memorandum of Understanding (MoU) last February.

According to the Government Spokesperson, President Christodoulides stressed the importance of the timely and effective implementation of energy plans, on the basis of the Development and Production Plan, noting that "the development and exploitation of the Aphrodite field is a priority for the Republic of Cyprus", and underlined that the effective implementation of the plan is crucial " both for the country's energy plans and for the strengthening of the energy security of the region, as it highlights the importance of our country as a new source of supply for the needs of neighbouring countries, but also for the European Union.”

"Chevron's presence in the Cypriot EEZ and in the region as it is the only company operating in Cyprus, Israel, Egypt and Greece, the President of the Republic noted, adds momentum to the efforts for the exploitation of hydrocarbons in the region, rendering the company a key factor in ensuring energy security at the regional level through the development of synergies," said Letymbiotis, adding that "its extensive know-how and international experience in the management of marine hydrocarbon deposits create added value and transfer technological innovations, benefiting Cyprus and the wider region".

It is added that for their part, Chevron representatives reiterated their willingness to work closely with the Republic of Cyprus and expressed their intention to contribute to the implementation of the country's energy strategy objectives, noting that Aphrodite is an important part of the company's portfolio of activities in the Eastern Mediterranean, a region that is part of Chevron's future plans and priorities.

It is also noted that the meeting took place at Chevron's headquarters in Houston, Texas, where President Christodoulides had an opportunity to tour the company's infrastructure, which is designed to accommodate and support large-scale operations and specialized research programs.

The President of the Republic was accompanied at the meeting by Minister of Energy, Commerce and Industry George Papanastasiou, Government Spokesperson Konstantinos Letymbiotis, Deputy Minister to the President Irene Piki, and government officials, the statement concluded.

(Sources: CNA, PIO, X)