Saturday, April 02, 2016

The ENI-Kogas license renewal

The ENI-Kogas license renewal re: marine plots 2, 3 and 9 of the Cypriot EEZ, comes not only to confirm our expectations, but simultaneously to enhance our conviction about the huge interest towards the region in regards to the hydrocarbon sector.

Therefore, the reservations held by some, have by now disappeared completely, since they can't be supported by reality.

Additionally, the fact that the ENI-Kogas consortium hasn't departed fron any of the three marine plots, for which they've paid a signature bonus of 150 million euros, indicates that their interest is already profitable.
As a result, the energean port issue comes back on the board in an enhanced manner, since anyone can realize hereon, that this is all about an effective investment for Cyprus.

If we take into account these data, together with the fact that the third licensing round is concerning marine plots 6, 8 and 10, then we have a completed picture of the entire Cypriot EEZ.

It's now obvious that nothing has stopped the whole process, even though they were initially telling us that the negotiations will carry consequences, and that we should stop our activities in the hydrocarbons sector in order to make a good impression to the other side.

Fortunately the strategy finally selected was the one we've promoted, and which is proven to be the most dynamic one than any other.

Consequently, the dynamics of the Cypriot EEZ affects all the data, and it enhances the fact, that energy and strategy are more powerful than the verbalism re: politics and economy.

Additionally, with this second contract renewal, which followed that of the Total co, it's obvious that the theory regarding the uniqueness of the Aphrodite reserve within the Cypriot EEZ has completely collapsed, and that it's now a good time to support the construction of the gas liquefaction plant, in order to also gain the added value of the liquefied, and not merely the natural gas.
[N. Lygeros - Translated from the Greek by Athena Kehagias]

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