The government of Cyprus has approved Noble Energy to build and operate an onshore LNG plant, possibly to be located in Vasilikos, the company said on Wednesday.
The facility would initially have a capacity of 5 million tpy, but it will be expandable, according to John Z. Tomich, Noble's country manager for Cyprus. It could also include other partners.
The new LNG plant could handle growing gas volumes from the Eastern Mediterranean region, including the burgeoning Offshore Cyprus Block 12. It may take additional output from Israel in the future, Tomich said.
Dr. Symeon Kassianides, CEO of Cyprus-based Hyperion Systems Engineering, said the developments are good for the country, but cautioned that they will require "a lot of technical skill".
To that end, Noble Energy will host the Eastern Mediterranean Gas Conference (EMGC) next year, the first industry conference of its kind for the region. The event will be held in Nicosia, Cyprus, from March 26 until March 28.
The conference will give special focus to the latest geopolitical, market and technology trends related to the exploration, drilling, production, processing and marketing of natural gas in the area.
It will also cover key issues such as resource potential, leasing/permitting, development plans, infrastructure requirements and governmental plans and regulations. More details are available at the event website.
Far more than providing tremendous business and growth opportunities for the oil and gas industry, the abundance of natural gas resources recently discovered offshore Cyprus and Israel have the potential to forever alter the energy-security and economic landscape of the entire Eastern Mediterranean region, said Charles D. Davidson, CEO of Noble Energy, said.
Noble Energy is extremely proud to be a part of this international conference, and we are delighted that the natural gas sector is committed to helping us unlock these historic and truly transformational resources for the people of Cyprus and Israel.
The event, organized by Gulf Publishing Company, is expected to provide attendees with the knowledge and insight necessary to build business operations in the area.
"We will take all of the interest generated by one of the most significant new finds in the world and channel it into definitive information on the resources, stages of development for different fields, infrastructure requirements, and timelines to get this important resource to market, said John Royall, Gulf CEO.
An informational presentation and luncheon to introduce the event was held Wednesday at the Hilton Cyprus, also in Nicosia.