In an ongoing back and forth, the Cyprus government and US energy giant Chevron seem to be closer to reaching agreement on the development of the Aphrodite natural gas reservoir.
This is what Philenews reported on Tuesday, adding that officially nothing has been said.
Even though Monday, November 20, was the deadline which the Energy Ministry had set for taking “a final and binding decision” on the matter.
Energy Minister George Papanastasiou has told journalists there is more optimism that a shipwreck in the negotiations will be avoided.
And that Nicosia has asked Chevron for additional clarifications so that the issue is more clarified.
This means that Chevron’s latest reply was either not considered completely satisfactory or clear and clarifications are needed. Or that the Americans have taken a position on the pending issue and are now waiting for the Cyprus state’s fresh position.
The main sticking point between the government and Chevron concerns a Floating Production Unit (FPU).
Chevron has proposed the FPU be scrapped from the plans as the company wants to connect the field to liquefaction infrastructure in Egypt via a subsea pipeline.
In fact, the consortium submitted in May a revised development plan for the gas field – something that Nicosia rejected officially at the end of August.
The contract provides for 30 days of negotiations to resolve the dispute but this was extended for another 30 days with a deadline on November 5, which was then pushed back again.
