The East Med: Trouble in paradise
Overlapping claims of sovereignty in the waters off Cyprus—and conflicting premises and perceptions—add a note of uncertainty to the island’s gas development ambitions
Cyprus sees a bright energy future ahead, one where leading international oil companies (IOCs)—Eni, ExxonMobil, Total—are confident of finding more reserves of natural gas. Furthermore, a deal has been done at last that could eventually see Cypriot gas monetised for the first time. Noble Energy, Delek and Shell, partners in the Block 12 Aphrodite discovery (4.1tn ft3 of gas in place), have reached an agreement amending their production-sharing contract (PSC) with the Cypriot government. The deal, in the consortium's favour, brings the PSC into line with those signed with other IOCs operating off Cyprus. The agreement means an important step has been taken towards eventually transporting Aphr
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
