AKEL on announcement of new natural gas field discovery in block 6
AKEL C.C. Press Office, 8th February 2018, Nicosia
It is with satisfaction that we heard the announcement about the identification of a second natural gas field in the Exclusive Economic Zone (EEZ) of the Republic of Cyprus following the discovery of the Aphrodite field in 2011.
This development confirms our longstanding position that we can achieve results only by being consistent to the implementation of the drilling program, which, unfortunately, in the past few years has witnessed many postponements and delays.
We await, of course, the announcements by the relevant companies, their final analyses and studies, as well as the results of the confirmatory drillings that will show the actual quantities of Natural Gas.
With the identification of Natural Gas reserves there shouldn’t be any room for celebrations and the creation of impressions. It is an additional responsibility for elaborating a plan on how to develop and exploit the field within the framework of a comprehensive energy strategy which unfortunately is absent today.
The example of the “Aphrodite” gas field is characteristic, given that seven years after its detection it is still in the depths of the Cyprus EEZ without any worthy proposal whatsoever for its development.
As far as AKEL is concerned, today’s announcements show yet again the need the formulation of a comprehensive energy policy, a key element of which must be the creation of a liquefied natural gas (LNG) regasification plant in Cyprus. If today we had pursued this strategy, the announcements by the companies would have brought the goal of the terminal and the transformation of Cyprus into an energy hub for the region’s deposits even nearer.
