The Aphrodite gas field development in Cyprus has made significant progress, aligning with its 2019 agreement and enhancing the country’s role in Mediterranean energy. Strategic partnerships with Chevron and potential resolutions to regional disputes underscore Cyprus’s commitment to energy development and cooperation in the region.
The Great Sea Interconnector project, costing €1.9 billion, aims to link Cyprus, Greece, and Israel through a subsea power cable. Cyprus is awaiting Admie’s costbenefit analysis to determine its €100 million investment, balancing financial risks against potential energy cost reductions and strategic benefits.
Energean has achieved a major milestone by successfully starting gas extraction from Karish North on February 22, 2024, using a second gas export riser to maximize the capabilities of the FPSO vessel, Energean Power. This marks a significant advancement in the company’s gas production operations and sets the stage for further growth and strategic partnerships in the energy sector.
