The development of the “Aphrodite” is a strategic priority for the Republic of Cyprus, and significant progress has been made, said President of the Republic Nicos Christodoulides during a meeting he held today, September 22, in New York, with Javier la Rosa, President of Chevron’s Base Assets and Emerging Countries (Base Assets and Emerging Countries) of Chevron, Javier la Rosa, noting that now is the time to decisively move from planning to implementation, maintaining momentum and accelerating the next steps.
According to Government Spokesperson Konstantinos Letympiotis, “the meeting reaffirmed the shared commitment to advancing the development of the field, based on the approved Development and Production Plan, while the progress of technical and commercial work and the next steps toward a Final Investment Decision (FID) were discussed.”
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Mr. Letympiotis stated that “the President of the Republic emphasized the importance of maintaining momentum and accelerating the timeline, with the aim of reaching the Final Investment Decision as quickly as possible and commencing natural gas production.”
He noted that special mention was made of the strategic importance of energy cooperation between Cyprus and Egypt and of the progress achieved in utilizing the natural gas from “Aphrodite” through Egypt’s existing infrastructure.
“This development creates substantial prospects for the commercial exploitation of the reserves in the Cypriot EEZ and strengthens regional energy planning and interconnectivity in the Eastern Mediterranean,” the Spokesperson emphasized.
Mr. Letympiotis also noted that the President of the Republic “reiterated the Republic of Cyprus’s readiness to continue working closely with Chevron and all relevant partners, in order to facilitate the next steps and maintain the momentum for the project’s implementation.”
“The successful development of ‘Aphrodite’ will be a significant milestone for Cyprus, while also strengthening the role of the Eastern Mediterranean in European energy planning and energy security,” Mr. Letympiotis concluded.
