Cyprus has rejected Chevron’s proposal for the Aphrodite Gas Field, giving them a sixmonth deadline to present a revised plan. The consortium, which includes Chevron, NewMed Energy, and BG Cyprus, must comply with specific actions to move forward with the field’s development.
The development of the Aphrodite gas field in Cyprus is facing delays due to Chevron’s extension for submitting its plan, disagreements on gas transportation, and concerns about the project’s financial viability. These complex decisions are crucial for Cyprus’ energy aspirations, with a new deadline set for March 2024, but the future of the project remains uncertain.
Cyprus’ energy sector has reached a milestone with an agreement between the government and Chevron for the development of the ‘Aphrodite’ gas field, indicating a significant advancement in the country’s energy initiatives. Additionally, the tourism sector is expected to see a boost from Polish tourists, with Deputy Minister of Tourism Kostas Koumis forecasting over 300,000 arrivals in 2024.
