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Greek Cypriot Administration grants first hydrocarbon exploitation license

Greek Cypriot Administration grants first hydrocarbon exploitation licenseGreek Cypriot press announced on Thursday that Greek Cypriot Administration issued first hydrocarbon exploitation license to the consortium that owns the Aphrodite concession.
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Greek Cypriot press announced on Thursday that Greek Cypriot Administration issued first hydrocarbon exploitation license to the consortium that owns the Aphrodite concession.

The license that unilaterally granted by Greek Cypriot Administration to Noble Energy, Shell and Delek is for 25 years.

According to news report published in Greek Cypriot press, the international companies will be allowed to transmit the gas to an Egyptian liquefaction facility via underwater pipe line in accordance of the granted license.

Within the signed contract between Greek Cypriot authorities and international companies, the Cyprus gas that transferred to Egypt will be further exported to Europe in the form of LNG.

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