Famagusta Gazette: Natural gas reserves in Cyprus estimated at 39 tcf
Natural gas reserves in the six licensed blocks of Cyprus’ Exclusive Economic Zone are estimated to exceed 1.1 trillion cubic meters (38.9 trillion cubic feet) according to Cyprus` Hydrocarbon State Company (KRETYK) Chairman Charalambos Ellinas.
In an article published in the Oxford Energy Forum, Quarterly Journal for Debating Energy Issues and Policies, Ellinas stresses, inter alia, that the advantageous geographic location of Cyprus – at the crossroads of major international energy routes to Europe and the Far East through the Suez Canal – makes the island a natural regional energy hub in the East Mediterranean and the natural location to develop a liquefied natural gas (LNG) plant.
Of the possible export options, he argues that LNG provides the flexibility to serve several markets and customers, providing the strategic advantages that Cyprus needs.
Pipelines do not offer flexibility in the selection of markets. Also, the water depth in the eastern Mediterranean (2000m+) limits the size of pipeline, and thus throughput, he says, adding that given the amount of gas that Cyprus expects to be exporting by 2025, pipelines do not offer a practical solution.