The government spokesperson of Cyprus Konstantinos Letymbiotis characterized the developments as “positive news” for the Eastern Mediterranean energy game, following President Christodoulides’ meeting with the vice president of ExxonMobil. Specifically, he expressed the assessment that the quantity of natural gas in the “Pegasus” and “Glaucus” deposits of the Cypriot EEZ may potentially amount to 8 to 9 trillion cubic feet.
ExxonMobil: At least 8 trillion cubic feet of natural gas in Cyprus EEZ deposits
Following President Christodoulides’ meeting with the ExxonMobil vice president in New York, government spokesperson K. Letymbiotis stated it was “a very significant meeting,” during which the company’s vice president, John Ardill, briefed the President of the Republic on the initial findings from the latest drilling in the “Pegasus” deposit. According to preliminary data, combined with the “Glaucus” deposit, the natural gas quantity is estimated to potentially reach 8 to 9 trillion cubic feet. Mr. Letymbiotis characterized the results as “very positive news and very positive messages from ExxonMobil.”
Mr. Letymbiotis noted that the President of the Republic of Cyprus conveyed to Mr. Ardill both his satisfaction with the cooperation with the company thus far and its activity in the Cypriot EEZ, as well as the message from the Cypriot government regarding the acceleration of extraction as soon as possible, to exploit the natural wealth of the Cypriot EEZ, with the primary goal of positively impacting energy costs for Cypriot consumers.
“We remain committed to implementing our energy plan”
“The news is positive, we remain committed to implementing our energy planning, and the companies operating in the Cypriot EEZ – ExxonMobil is among the first of these – are global giant companies whose presence also constitutes a vote of confidence in the Cypriot EEZ,” he stated. When asked if the company briefed on how it will proceed to exploit these quantities, Mr. Letymbiotis said that “certainly, a very specific discussion took place. In the immediate future, we expect the next, very concrete actions from the company with timelines, which will be set regarding the implementation of necessary actions to be able to exploit the natural gas. This is one of the goals that have been set.”
