CYPRUS/ISRAEL/EGYPT

Cyprus And Israel Gas Going Nowhere… For Now At Least

The discovery of 30 tcf offshore Egypt has forced Cyprus and Israel to re-evaluate their export strategies despite Cairo’s assurances that non-binding agreements have not been shelved. Plans for a Cyprus LNG plant may yet be resurrected.

In March this year, Cyprus signed a Memorandum of Understanding with Egypt’s state-run gas firm EGAS for a feasibility study to be carried out for the...