LNG Terminal 'Only Option' For Hydrocarbons Export
News: Charalambos Ellinas, head of Cyprus' state hydrocarbons company KRETYK, has stated that the construction of a costly liquefied natural gas (LNG) terminal is the sole option available to Cyprus for exporting its hydrocarbons. KRETYK is also preparing an action plan that is to be submitted to the new commerce minister in next few days, Ellinas added. The plan outlines positions on pending issues regarding the company's own existence, the debate over an LNG terminal; and Noble Energy's pending exploitation of the Aphrodite field in block 12 of Cyprus' Exclusive Economic Zone. The proposal also lays out talks with French giant TOTAL and Italian-Korean consortium ENI/KOGAS.