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Thursday, 15 March 2018

Small-time Israeli company trying to block Egypt-Cyprus gas import agreement

Some bit player in Israel with rights to Aphrodite is trying to block a potential gas import agreement between Egypt and Cyprus, Cyprus Mail reports. Israel Opportunity, one of the partners in the Ishai field — located on the Israeli side of Cyprus’ Aphrodite reservoir — has written to the Israeli government urging it to step in and block any potential agreement as it would impact their interests. “Such behaviour will lead to a significant loss of state revenue,” said company Chairman Rony Halman. Israel’s ministry of national infrastructure responded that “development of the reservoir necessitates agreement between the parties on safeguarding the rights of both countries in the reservoir, and a dialogue is taking place with Cyprus on the matter.” Cyprus’ government had brushed off the claim when it was made to them, with government sources stating that the claim is unreasonable since they have officially admitted that the quantity discovered at Ishai is negligible and cannot be recovered.

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