UAE energy giant ‘expresses interest’ in Cyprus gas

United Arab Emirates energy giant Abu Dhabi National Oil Co has expressed interest in Cyprus’ emerging natural gas sector, Energy Minister George Papanastasiou has said.

“They expressed interest in the eastern Mediterranean,” Papanastasiou told Reuters on the sidelines of an energy conference in Abu Dhabi.

He clarified that Adnoc had not made any formal request or proposal to the government, though it had expressed interest “quite a number of times”.

“Their interest is mostly on de-risk assets (acquisitions). But at the same time they may consider entering a new potential licensing round in order to get into blocks,” he said.

The minister did not specify when Adnoc expressed interest.

Adnoc itself declined to comment when contacted by Reuters.

Reuters reported in August, citing sources, that Adnoc and BP had met Cypriot energy ministry officials to discuss investments in the country’s natural gas sector.

Cyprus has issued several licences for offshore gas fields since 2007, and Papanastasiou said first gas from blocks in the eastern Mediterranean could reach markets in 2027.

The Cypriot minister is taking part in Adipec 2024, an international energy forum. On the sidelines he was expected to meet counterparts from the United Arab Emirates and Egypt, as well as senior executives from Chevron, Shell, ENI and BP.