Joint natural gas exports and the supply of natural gas from Israel to Cyprus are the two issues discussed between Cyprus and Israel in the field of energy, Minister of Energy, Commerce, Industry and Tourism, Yiorgos Lakkotrypis has said.

In statements on Sunday, the Minister said that Israel is open to this dialogue which began during his recent visit to the country..

Elaborating on the two issues, he noted that Cyprus’ supply with natural gas from Israel for electricity purposes could only be implemented during the night, since at day time the local demand in Israel is high and does not leave any room for export.

With regard to joint exports, he said that they would concern both Cypriot and Israeli reserves.

“Israel has responded in a positive manner and the dialogue continues”, he pointed out.

He also reiterated the government’s commitment to set up soon an Energy Strategy Council.

Preliminary results of a Noble Energy appraisal well for natural gas in Block 12 of Cyprus’ Exclusive Economic Zone estimate the hydrocarbon reserve between 3.6tcf and 6tcf with a gross mean resource of 5tcf.

Noble Energy operates Block 12 with a 70 percent working interest. Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership each own 15 percent.

On June 26, 2013, Cyprus government, Delek and Avner signed a Memorandum of Understanding (MoU) with regard to the construction of a Liquefied Natural Gas (LNG) terminal in the Cyprus.

ENI - KOGAS consortium who have signed a contract for hydrocarbons exploration in blocks 2, 3 and 9 within Cyprus’ EEZ are planning to drill in the third quarter of 2014, while Total, which has signed a contract for blocks 10 and 11, is also proceeding with drilling at the first quarter of 2015.