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Cyprus and Total sign MoU on Cyprus LNG Project

Cyprus and energy giant Total signed a memorandum of understanding on Thursday for the development of a natural gas liquefaction facility.

In particular the two sides will cooperate on the feasibility of an onshore LNG plant to be built at Vassilikos, with due consideration to Total’s views on the structuring and development of the LNG Project.

This follows the award in February to Total of Exploration and Production Sharing Contracts for Blocks 10 and 11 of the Exclusive Economic Zone (EEZ) of the Republic.

The MoU records Total’s support for the monetization of potential natural gas reserves in Blocks 10 and 11 through a variety of options giving priority to liquefaction and LNG export to European and Asian markets.

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