Israel’s NewMed and partners submit USD4b plan for Aphrodite gas field off Cyprus
Categories: Projects & Energy
Partners in the Aphrodite natural gas field, including Israel’s NewMed Energy, have submitted an updated development plan to the Cypriot government, valued at USD 4 billion. The plan outlines the production and processing of gas from the reservoir, which is located offshore Cyprus.
NewMed Energy, which holds a 30% stake in the field, stated that the plan aligns with government directives. The consortium intends to build a subsea pipeline to connect the Aphrodite field to an existing processing facility in Egypt, enhancing the region’s energy infrastructure.
Read more in Times of Israel.
