Famagusta Gazette: Talks on possible transfer of Leviathan gas to Cyprus on track, says CNHC

Discussions between the Cyprus National Hydrocarbons Company (CNHC) and the Leviathan partners Noble and Energy and Avner have reached a very good point, CNHC have said.

Natural gas discoveries so far in the Cyprus' Exclusive Economic Zone, which amount to 5 trillion cubic feet from block 12, cannot render a natural gas liquefaction plant sustainable, a press conference has heard, and consequently Nicosia has embarked on talks with Noble-Avner over the possibility of transferring Leviathan gas to Cyprus, which would sustain the operation of an LNG plant.

“We went a long way in the past three meetings we have had,” CNHC Board member Lenas Milonas told the press conference today, adding that negotiations on a possible agreement are close to conclusion.

He added that although the Leviathan partners have already agreed on exporting 20% of the block`s reserves to Egypt, the Israeli block has ample of reserves that could be transferred to Cyprus for liquefaction. Leviathan is Noble`s “largest exploration success” with a gross mean of 19 tcf.
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