President and Chevron reaffirm support for development of ‘Aphrodite’ in New York

President Nikos Christodoulides and Vice President of Chevron Frank Kasalo, reaffirmed their support for the development of the Aphrodite gas field in Cyprus’ exclusive economic zone, it was reported on Friday.

The announcement was made from New York following the president’s meeting with a delegation of the US energy giant.

“The president of the Republic and the vice president of the company reaffirmed their support for the Aphrodite project, [which is one of] strategic importance for the energy planning of Cyprus [and] the wider region, as well as for the company itself,” Government Spokesman Konstantinos Letymbiotis said.

He added that steps will be taken by the Ministry of Energy and Chevron towards close cooperation. 

The meeting with Christodoulides took place following a joint statement of the ministry and the US company after meetings in Nicosia, and discussions are to be held in the next four months.

The purpose of the meetings is to seek a consensual arrangement for development of the Aphrodite field without further delays, Minister of Energy Giorgos Papanastasiou had stated.

The consortium that holds the licence to develop the field had announced that it filed an amended development and production plan worth $4 billion, with the ministry of energy on September 2.