Cyprus seeks to import Israeli gas by 2015
Cypriot Commerce Minister Neoklis Sylikiotis: Israel is positive in supplying Cyprus a small quantity of natural gas for electricity production.
Sylikiotis said that Israel is positive in supplying Cyprus a small quantity of natural gas, 0.5-0.7 billion cubic meters, for electricity production. He added that Cyprus would import Israeli gas in the form of liquefied natural gas (LNG) through contracts between Electricity Authority of Cyprus and Israel Electric Corporation (IEC) (TASE: ELEC.B22).
Cyprus Cypriot Energy Service director Solon Kassinis said, "Indeed Israel is willing to co-operate very harmoniously for the common good of the two countries and they are definitely willing to give us natural gas." He added, "We will also check all the parameters surrounding compressed natural gas. On September 16, we will submit in writing the infrastructural and other needs we have, and at the same time, our team will co-operate with their team to see what happens in the case of compressed natural gas."
The "Cyprus Mail" says that if a deal with Israel is reached, Cyprus would import natural gas by ships. The country needs only enough gas to power its 450-megawatt Vassilikos power plant
The paper added that Noble Energy Inc. (NYSE: NBL) and Delek Group Ltd. (TASE: DLEKG) have been promoting a venture to set up a gas liquefaction plant in Cyprus for exporting the gas from Israel’s Leviathan prospect and from Cyprus's Block 12 nearby.
Published by Globes [online], Israel business news - www.globes-online.com - on September 4, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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