Christodoulides urges faster steps towards Aphrodite gas investment decision

Nicosia, Cyprus. President Nikos Christodoulides said it was time to move decisively from planning to implementation and accelerate the next stages in developing the Aphrodite gas field.

He made the comments during a meeting late on Tuesday with Chevron’s Base Assets and Emerging Countries chairman Javier la Rosa, describing the project as a strategic priority for Cyprus.

Development plans

Government spokesman Konstantinos Letymbiotis said the meeting confirmed the shared commitment to advance development of the deposit under the approved development and production plan.

Christodoulides and la Rosa discussed technical and commercial work under way, as well as the next steps towards a final investment decision.

Letymbiotis said the president stressed the need to maintain momentum and shorten the timetable to reach a final investment decision as soon as possible and begin natural gas production.

Energy cooperation with Egypt

The meeting also addressed the strategic importance of energy cooperation between Cyprus and Egypt and progress towards using Egypt’s infrastructure to exploit natural gas from the Aphrodite field.

Letymbiotis said the development offered significant prospects for the commercial use of deposits in Cyprus’ exclusive economic zone and would strengthen regional energy planning and interconnectivity in the eastern Mediterranean.

Cyprus readiness

Christodoulides confirmed Cyprus’ readiness to continue working closely with Chevron and all involved partners to facilitate the next stages and sustain the project’s implementation.

Letymbiotis said the successful development of Aphrodite would be an important milestone for Cyprus and would strengthen the eastern Mediterranean’s role in European energy planning and energy security.