Cyprus eyes natural gas era
LNG imports are a first step. Exports and bunkering may come next
Cyprus is a rare bright spot for LNG trade amid the demand destruction and project delays that the Covid-19 pandemic has wrought in the industry. Construction started in July on the EU-funded Cynergy floating storage and regasification unit (FSRU) and LNG terminal project, which will bring first gas, energy diversification, greater supply security and reduced carbon emissions to the island from 2022. The country, currently almost completely isolated from EU energy links, sits on top of at least 13tn ft³ of offshore gas, including the 4.5tn ft³ (370bn m3) Aphrodite field in block 12, the 3-5tn ft³ Calypso in block 6 and, most recently in February 2019, the 5-8tn ft³ Glaucus in block 10. Parad
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026