By George Psyllides
ENERGY giant Total is looking to participate in the development of a gas liquefaction terminal, it emerged on Wednesday, as the cabinet approved a draft MoU with the French company.
Reports said the MoU was approved and will be signed in the next days.
Total has secured two offshore blocks in the Cyprus Exclusive Economic Zone.
Cyprus has already signed a similar agreement with US oil company Noble Energy, which has discovered natural gas in an offshore field known as Block 12.
Energy Minister George Lakkotrypis said the terminal remained Cyprus’ strategic target.
Briefing reporters about his recent visit to Israel, the minister said that on the agenda of his meetings were issues concerning the possibility of natural gas supply to Cyprus for electricity as well as an agreement to jointly exploit hydrocarbon reserves, which are located at the border of the Exclusive Economic Zones of both countries.
Two days ago, the European Commission approved three projects of common interest which concern Cyprus.
One of them is a feasibility study for a natural gas pipeline from Cyprus to Greece.
Lakkotrypis said this was discussed last week during a visit of a Greek delegation to Israel and was also the focus of a discussion held between the Cypriot delegation that visited Israel.
“We have made clear that according to our own techno-economic studies, our strategy remains the natural gas liquefaction terminal”, he said.
The minister added that the possibility to have a pipeline from Israel to Cyprus and then to Greece is something that will be clarified by the project of common interest, which was approved by the European Commission.
On Monday, the European Commission announced a list of 250 infrastructure projects that may qualify for €5.8 billion of funding.