China Looking At Role In Cyprus Natural Gas Plans

Article title
China is looking at playing a role in Cyprus' multi-billion-dollar plans to develop the island's natural gas reserves, including possible investment in a LNG export terminal.

Reuters

NICOSIA/LONDON, Feb 18 (Reuters) - China is looking at playing a role in Cyprus' multi-billion-dollar plans to develop the island's natural gas reserves, including possible investment in a liquefied natural gas (LNG) export terminal.

Cyprus hopes to attract large investors to take a stake in its gas fields, an option which a Chinese delegation is in Cyprus to discuss.

"There is very strong interest from China... in energy, in the whole value chain, upstream, downstream and midstream," Cypriot Energy Minister George Lakkotrypis told Reuters on Tuesday.

He said the Chinese delegation includes China Shipbuilding Industry Corporation.

He said delegates were interested in the development of an LNG export terminal, including potentially a floating LNG facility (FLNG).

"The Chinese delegation will also discuss taking a stake in Cypriot gas fields," a source with the delegation told Reuters.

China is seeking to access new gas sources around the world as its energy demand rises and the government encourages industry to move to cleaner gas from coal.


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