Cyprus speeds up gas field development

The consortium licensed for Cyprus' "Aphrodite" gas field will update the development and production plan of the field by March 31, as announced by the minister of Energy, Commerce and Industry, George Papanastasiou. He pointed out that a floating production unit (FPU) above the gas field would be an essential plan of the new agreement.

Speaking before the Parliamentary Committee on Energy, Papanastasiou revealed that recent discussions led to an arrangement with the consortium.

"At this moment, the discussion revolves around the necessity of the floating production unit (FPU) and considering the significant changes in the Eastern Mediterranean energy landscape since 2019, both geopolitically and in terms of energy, we thought it might be appropriate to accept an update of the specific plan," he said.

He clarified that the term "update" implies making the plan...