Plans for "Aphrodite" Gas Field on Hold Amidst Chevron Dispute
Plans related to the "Aphrodite" gas field are reportedly being put on hold due to a dispute between Chevron and Southern Cyprus.
According to Alithia newspaper, negotiations between the two parties expired yesterday without reaching an agreement after Chevron's proposal to transport natural gas from the "Aphrodite" field to Egypt through a submarine pipeline system, without a floating platform (FPU), was rejected due to high costs.
The newspaper reported that as of yesterday evening, no agreement had been reached on the matter, and there had been no announcements regarding the extension of the negotiation period. This situation has raised concerns among experts, with suggestions that Chevron might consider withdrawing from the project, possibly due to the uncertainties in the Eastern Mediterranean.
The report also mentioned that Southern Cyprus proposed a two-week extension in negotiations instead of the requested four months, and President Nikos Christodoulides stated that no official announcement would be made until they received a response from Chevron regarding Southern Cyprus' viewpoint.
Source: TAK
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