Cyprus: gas falls victim to unity failure
The collapse of UN-brokered talks in Switzerland to reunify the island is a setback for Cypriot offshore gas ambitions
The final days of what was likely the last effort on the part of the UN to bring the Greek and Turkish Cypriot communities back together coincided with a heatwave on the island. Temperatures ventured towards 50° Celsius. By night as well as day, the mechanical throb of air-conditioning units was the ambient sound across the island. Cyprus's ambition is that one day soon the power needed to keep the island cool will come from generating stations fuelled by its own offshore natural gas, rather than expensive imported fuel oil. That day now seems a long way off. The Aphrodite field in Block 12, with 4.5 trillion cubic feet of reserves, was discovered in 2011, but still awaits development. The p
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift