Cyprus ponders gas monetisation options
New natural gas discoveries offshore Cyprus have revived the possibility of the island hosting an LNG plant
Cyprus is finally in a position where it can realistically start exploring a number of ways of getting natural gas to market. Seven years after the first discovery in Cyprus' offshore economic exclusion zone (EEZ) — the Aphrodite field in Block 12 (4.5tn ft3 of gas in place) — the island has notched up two more finds. Last year, an Eni-Total consortium struck gas at Calypso in Block 6 (estimated 3-5tn ft3). The most recent newcomer is Glaucus-1 (5-8tn ft3) in Block 10, discovered by ExxonMobil, partnered by Qatar Petroleum. Energy minister Yiorgos Lakkotrypis, addressing Gulf Energy's Eastern Mediterranean Gas Conference in Nicosia in early March, said the "quality of the reservoir in Block
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
