Talks between Nicosia and Tel Aviv and Israel are progressing on Israel’s Yishai fuel subject which is adjoining to Cyprus’ Aphrodite subject, Cyprus’ new Energy, Commerce and Industry Minister Natasa Pilides stated on August 5 after her first video convention together with her Israeli counterpart Yuval Steinitz, Cyprus News Agency reported.
The Cypriot authorities granted the Noble Energy, Shell, and Delek consortium an exploitation licence for the Aphrodite fuel subject. The corporations supposed to pipe the fuel to neighbouring Egypt. Noble Energy has since been purchased out by Chevron. But Israel claims a share of the manufacturing of Aphrodite, as a small portion of the reservoir stretches into the Yishai subject, in keeping with CNA.
Asked if the dispute might be resolved quickly, Charles Ellinas, a senior fellow on the Global Energy Center on the Atlantic Council, advised New Europe on August 7, “This is what Cyprus Energy Minister has said, but we have not yet seen a response from the Israeli side, other than welcoming Cyprus’ proposals and confirming that it will now study them”. However, Ellinas famous, it’s a constructive improvement on what has been a protracted dispute, even if it ought to have been a easy downside to resolve between two pleasant neighbours. “Resolution, though, will still depend on the details of the Cypriot proposal,” he stated, including, “But even if they agree, given global market conditions – with a glut of gas supplies and very low prices – development of the Aphrodite gas-field is still far off”.