Cyprus and Israel to Finalize Shared Gas Reservoir Agreement by End of October

Negotiations between Cyprus and Israel for an agreement on their shared natural gas reservoir are progressing within the first half of October, according to Energy Minister Michael Damianos.

The reservoir in question is located near the Cypriot field 'Aphrodite' and the Israeli 'Ishai', which geologically intersect in the Israeli Exclusive Economic Zone. The American company Chevron operates 'Aphrodite', located in Block 12 of the Cypriot EEZ.

The talks, taking place at a technical level, involve technocrats and legal advisors from both countries, along with the managing companies of the two reservoirs. Damianos mentioned that meetings will be held before the end of October to finalise the agreement.