Cyprus: long wait for celebration
The rising prospect of East Med natural gas sales is lifting Cyprus' hopes of finding a market, despite Turkish threats
A string of recent developments in the East Mediterranean offshore have raised the possibility of a gas find off Cyprus made in December 2011 finally being developed. The Aphrodite field in Block 12, located 100 miles (160 km) south of the island, contains 5 trillion cubic feet of natural gas. Operator Noble Energy has been unable to proceed with a final investment decision because it has failed to find a market that would justify the expense of developing a relatively small discovery at the bottom of 2,000 metres of sea. Noble has also made slow progress in finding markets for its two operations offshore Israel, the Tamar field (with reserves of 11 trillion cf) and the giant Leviathan field
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
