Israel and Cyprus have reached an understanding over gas reserves in the Mediterranean Sea straddling their maritime border, resolving a long-time dispute over the offshore resources, which could open up the development of Aphrodite gas field. “What Cyprus and Israel have agreed to is a framework on the basis of which the companies can negotiate

and agree quantities – i.e., how to divide Aphrodite,” Charles Ellinas, senior fellow at the Global Energy Center of the Atlantic Council, told New Europe on March 12. “This is something they were not able to do until now,” he added, noting that the owners of the Aphrodite gas field and the Ishai block in the Israeli Exclusive Economic Zone (EEZ), into which Aphrodite extends, can now negotiate and agree how to divide Aphrodite gas reserves and how the Ishai block companies will be compensated should the gas ever reach the markets.

https://www.neweurope.eu/article/israel-cyprus-plan-to-share-aphrodite-gas-field-talk-first/

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