Israel's decision on NG exports helpful, says Energy Minister
23/10/2013 12:25
Minister of Energy Yiorgos Lakkotrypis said that the Israeli Supreme Court’s decision for the export of 40% of Israel’s natural gas contributes to overcoming obstacles in the cooperation between the two countries.
“The decision taken Monday in Israel to export 40% of its natural gas reserves has helped overcome the obstacles that existed in the neighboring country”, Lakkotrypis said.
He was commenting on the Israeli Supreme Court’s decision which rejected a petition to halt Israel`s natural gas exports, thus giving the government the green light to export 40% of the country`s natural gas, in accordance with an Israeli Cabinet decision taken in June.
In statements at the House of Representatives, where he presented the Ministry of Energy, Commerce, Industry and Tourism’s 2014 budget, Minister Lakkotrypis recalled that the Council of Ministers’ decision as regards import of natural gas from a third country, provides for an interstate agreement.
The import, he said, must follow an agreement between Cyprus and Israel, adding that the two governments continue their dialogue on that issue.
Referring to his Ministry’s budget, he said that it is increased by 3.4 million euro, stressing that “this demonstrates the importance we attach on energy, hydrocarbon issues”.
Texas-based Noble Energy and Israeli corporations Delek Drilling and Avner Exploration, which hold Tamar and Leviathan gas fields, Israel’s two major gas fields, welcomed the Supreme Court’s decision.
On Sunday, the Minister said that 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, adding that Israel is open to this dialogue which began during his recent visit to the country this month.
Cyprus is currently developing natural resources discovered within the Republic’s Exclusive Economic Zone, while several international companies are involved in hydrocarbon exploration and exploitation activities.
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.
“The decision taken Monday in Israel to export 40% of its natural gas reserves has helped overcome the obstacles that existed in the neighboring country”, Lakkotrypis said.
He was commenting on the Israeli Supreme Court’s decision which rejected a petition to halt Israel`s natural gas exports, thus giving the government the green light to export 40% of the country`s natural gas, in accordance with an Israeli Cabinet decision taken in June.
In statements at the House of Representatives, where he presented the Ministry of Energy, Commerce, Industry and Tourism’s 2014 budget, Minister Lakkotrypis recalled that the Council of Ministers’ decision as regards import of natural gas from a third country, provides for an interstate agreement.
The import, he said, must follow an agreement between Cyprus and Israel, adding that the two governments continue their dialogue on that issue.
Referring to his Ministry’s budget, he said that it is increased by 3.4 million euro, stressing that “this demonstrates the importance we attach on energy, hydrocarbon issues”.
Texas-based Noble Energy and Israeli corporations Delek Drilling and Avner Exploration, which hold Tamar and Leviathan gas fields, Israel’s two major gas fields, welcomed the Supreme Court’s decision.
On Sunday, the Minister said that 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, adding that Israel is open to this dialogue which began during his recent visit to the country this month.
Cyprus is currently developing natural resources discovered within the Republic’s Exclusive Economic Zone, while several international companies are involved in hydrocarbon exploration and exploitation activities.
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.
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