The study by Noble – the main investor behind the planned LNG plant at Vasilikos area, was presented to the government last week but was not released, the press wrote on Monday.

And it basically showed that pipes transferring gas to neighbouring countries is what Noble technocrats consider more profitable.

The study is considered necessary for the preparation of the development plan for Aphrodite or plot 12 leased by Noble – the first to drill for gas and oil offshore Cyprus.

In particular, Noble and their Israeli subsidiary, Delek, want to turn to regional markets – like they did with Leviathan plot, rather than invest in an onshore LNG plant.

Noble’s action plan will come under discussion with Nicosia until common ground is reached considering that Nicosia is all set for an LNG plant exporting to Europe, the report also said.

Last month, Cyprus Hydrocarbons Company chairperson Toula Onoufriou referred to new drilling by ENI-Kogas energy conglomerate in a different plot within the island’s exclusive economic zone.

And she said that if this confirms sufficient quantities of gas, Cyprus can then continue with the development of plans to build an onshore terminal.

“If not, then we should re-evaluate the existing possibilities. A second option is to build a floating natural gas liquefaction plant,” she added.

Onoufriou has also predicted that Cyprus could begin to export liquefied natural gas to Europe in 2022.

Source: InCyprus