Cyprus faces a dilemma on how to proceed with its natural gas development, perhaps shifting plans altogether to export gas via pipeline or other options instead of developing a large onshore export terminal, Natural Gas Europe reported. According to recent reports, gas reserve estimates from the Aphrodite find on Block 12 have been significantly reduced from earlier estimates. The findings point to just 5 tcf of gas in the field, compared to the 12 tcf estimated. Some local sources put the reserves at closer to 3 tcf, further reducing a possible export projects feasibility.
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