Financial Mirror: Noble says Cyprus natural gas could help ties with neighbours

Noble Energy believes that natural gas deposits in Cyprus’ exclusive economic zone could help develop good relations with its neighbours, pointing out that these deposits far exceed Cyprus’ needs and can be exported. 

Speaking at the Cyprus-US Commerce Chamber’s Annual Awards where Noble’s Chairman and CEO were awarded the 2012 Distinguished Merit Award, chief executive Charles Davidson said Noble has discovered 35 trillion cubic metres of natural gas in the Eastern Mediterranean, in the Cyprus and Israeli EEZ. 

These opportunities, Davidson said, exist and the company in co-operation with the government of Cyprus is working on a comprehensive plan, which will guarantee not only the transfer of gas to Cyprus, as soon as possible, to cover its needs but also the creation of the necessary infrastructure that will allow gas exports. 

Cyprus will gain great economic benefits, he stressed, since the world market of liquefied natural gas is strong and will remain so, given the great demand all over the world. 

Cyprus-US Chamber President Vassos Vassiliou said the discovery has raised Cyprus’ profile and prospects for a better future, creating at the same time prospects of a solution to the Cyprus issue. 

Texas-based Noble Energy discovered from exploratory drilling a natural gas reservoir of about 7 trillion cubic feet (tcf).  MORE