Chevron to ...
Chevron to Conduct Seabed Survey for Cyprus-Egypt Gas Pipeline
Energy company Chevron is set to initiate a seabed survey in the eastern Mediterranean this summer, aiming to lay the groundwork for a pipeline that will transport natural gas from Cyprus's Aphrodite field to processing facilities in Egypt.
The Aphrodite field, located approximately 160 kilometers off Cyprus's southern coast, is estimated to contain up to 4.5 trillion cubic feet of natural gas. This development follows a recent agreement between Chevron, Shell, Israeli company NewMed Energy, and Egypt, outlining the framework for the field's development.
The revised production plan includes the installation of a floating platform to process the extracted gas before it is piped to Egypt. Cypriot President Nikos Christodoulides emphasized the strategic importance of this project, highlighting its potential to position Cyprus as a key energy supplier for neighboring countries and the European Union. Chevron officials have reiterated the significance of the eastern Mediterranean region in their future plans, noting that Chevron is the only energy company operating simultaneously in Cyprus, Israel, Egypt, and Greece.
Other major energy players in the region, such as ExxonMobil, Qatar Petroleum, Eni, and Total, have also made significant gas discoveries and may collaborate on resource development.
Market Cyprus - News Service
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