Eni, Kogas abandon Cyprus block talks

摘要

Nicosia—Italy’s Eni and South Korea’s Kogas have opted not proceed with further negotiations on Cyprus’ offshore gas blocks 5 and 6, in a further blow to the country’s nascent gas industry. But Cypriot energy minister Yiorgos Lakkotrypis stressed that the end of talks was “purely for commercial reasons” and not related to tensions with Turkey, which claims virtually all of the territory west of Cyprus as part of its continental shelf. “The [Eni-Kogas JV] answered with a letter they are not ready to start a negotiation process, because they cannot improve on the terms of their financial offer,” Lakkotrypis said. The JV won offshore blocks 2, 3 and 9 last January in the 2012 licensing round, in which Eni/Kogas had also bid on blocks 5 and 6.