Chevron ‘positive’ about Israeli-Cypriot plans for natural gas pipeline

Oil and gas company Chevron is "positive" about an Israeli-Cypriot plan for a pipeline that would convey offshore natural gas from both countries to Cyprus where it would be liquefied for export by ship to Europe and elsewhere, an official said Friday.

Cypriot Energy Minister Giorgos Papanastasiou said after talks with visiting Chevron Vice President for Exploration and Production Frank Cassulo that the company also wants to hear the views of other energy firms attending a gathering next week where the Cypriot government will formally pitch the plan in order to secure investor backing.

Chevron has presented the Cypriot government with a plan to develop its Aphrodite deposit in waters south of the island, first discovered in 2011 and estimated to contain 4.2 trillion cubic feet of the hydrocarbon.

Papanastasiou also pointed to recent statements by a senior...