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Cyprus: ExxonMobil to gauge gas field size in 6-8 weeks

KIFI

By MENELAOS HADJICOSTIS
Associated Press

NICOSIA, Cyprus (AP) — Cyprus’ energy minister says ExxonMobil’s drilling slated to start in 6-8 weeks to confirm how much natural gas is contained in a sizable deposit off the island nation’s southwestern coast will map out how the fuel will reach potential markets in Europe and Asia. Minister Natasa Pilides told the AP in an interview on Wednesday that a higher confirmed quantity push exploitation of the deposit up the priority list for ExxonMobil and partner Qatar Petroleum. Pilides said transferring the gas by pipeline to Egyptian processing plants where it would be liquefied for export aboard ships is currently “the most likely option.” She said “there’s still room for gas” as a cleaner-burning conventional fuel while countries transition to more renewable energy sources for power generation.

Article Topic Follows: AP National Business

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