Georgios Lakkotrypis

Cyprus's energy minister says the country will renegotiate the financial terms of its contract with a consortium on exploiting a gas field off its southern shore.

Georgios Lakkotrypis told reporters on Tuesday that the consortium made up of Texas-based Noble Energy, Israel's Delek and Royal Dutch Shell wants to renegotiate the contract on the Aphrodite gas field.

Cyprus’s cabinet on Friday approved contracts with France’s Total, Italy’s Eni , Exxon Mobil and Qatar Petroleum to explore for oil and gas in offshore areas south of the island, officials said.

Bulgaria is among the countries that Cyprus could work with to deliver gas to Europe, Cyprus' Energy Minister Georgios Lakkotrypis has said.

At a meeting with his Bulgarian counterpart Temenuzhka Petkova in Sofia, he has discussed possibilities for energy cooperation between the two countries.