Front Page Headlines
Americans plant both feet in the Eastern Mediterranean
After ExxonMobil, Chevron also in the Cypriot EEZ. Chevron bought Noble and took the position of administrating of the Aphrodite oil field. Minister of Energy announced teleconferences with former and current owners of plot 12.
- Fourth night: Frugal northerners and insistent southerners
He threatens and asks for surrender
Erdogan demands political equality “without delay” and an equal share of natural gas. Ankara blackmails with a repeat of 1974 on the day of invasion anniversary.
- Unceasing pain 46 years after the tragedy: The chilling sound of the sirens brought the nightmare alive yesterday too
- Chevron is the new energy colossus in the Cypriot EEZ
- Young hacker being tried in the US: 21-year-old Epiphaniou was handed over on Friday in US territory – Lebanese man accused for money laundering and connections with Hezbollah also turned over
- Nikolaos Katountas, the “Leonidas” of Kyrenia
- Former Zygi army camp becomes prime development land after all
“Aphrodite” passed to different hands…
Chevron Corp. bought Noble Energy for 55 billion. Could potentially affect the development of the gas field. DELEK very likely to also sell its share.
- Honour for the heroes – fallen during invasion
- European Council: “Frugals” gained ground
- “Golden” passport an… industry for enrichment
- Ibrahim Kalin: Parallel meetings after Greece – Turkey – Germany trilateral
- DISY government celebrates the advancement of American interests!
- Marriage of convenience circuit. Ten woman from Romania deported
Noble buyout to impact Cyprus
Chevron takes over Noble Energy, makes no mention of Cyprus gas.
- Remembering the invasion
- EU leaders move towards last steps for recovery deal after days of squabbling
A new front opens
After PEP (politically exposed persons) list, now come the cancellations of party loans. After DISY’s insistence, House starts discussing the cancellation of loans given to parties and their companies. Intense pressure by AKEL that the issue is not discussed and that it is also passed to an ad hoc committee. Banks, KEDIPES and responsible institutions will be called to submit specific data within a logical time-frame.
- 46 years after the barbaric Turkish invasion and occupation of Cyprus: President to EU: Time to bring cost to Turkey – Tayip Erdogan: 1974 “operation” showed what can happen if T/C rights are violated
- Rapid developments: Egypt sends military to Libya
- From Romania: Ten “brides” came for virtual weddings
Main News
Chevron takes over Noble Energy including stake in block 12
Alithia, Cyprus Mail, Haravgi, Phileleftheros, Politis
Energy, Economy, Regional/ International Relations, External Security
OVERVIEW
Noble Energy, the company that has been licensed by the RoC to operate in block 12 of the Cypriot EEZ, has been bought by Chevron, the dailies report, while recalling that another US energy company, ExxonMobil, is already involved in block 10.
Politis reports that Chevron announced on Monday it had arrived at a deal to buy out Noble Energy for about 5 billion dollars. The newspaper notes that Noble Energy had financial troubles that were exacerbated by the coronavirus pandemic, leaving the company 13 billion dollars in debt, which now passes to Chevron.
Among other assets and rights formerly owned by Noble, Chevron acquires 35% of the rights to the Aphrodite gas field (with confirmed deposits of around 4.5 trillion cubic feet of natural gas). Dutch company Shell holds 30% of the rights and DELEK holds another 35%. Chevron has also acquired Noble’s rights to Israeli gas fields Leviathan (about 20 tcf) and Tamar (10 tcf).
In an announcement, Chevron noted that the buyout increases the company’s presence in Israel and West Africa, and that Noble’s assets contribute to an increase of 18% to Chevron’s reserves of natural gas. Cyprus Mail notes that Chevron makes no mention of Cypriot natural gas in its announcement.
Politis reports that Monday’s development surprised the RoC government, noting that the authorities had no prior knowledge of the purchase. In a short statement, the Energy Ministry mentions that the buyout could affect the process of developing the Aphrodite gas field. According to the same announcement, Energy Minister Natasa Pelides will contact the heads of both Chevron and Noble Energy through teleconference.
Energy expert Charalambos (Charles) Ellinas told Haravgi that the problem with Chevron is that it tends to be a “conservative” company when it comes to research and tends to move ahead mainly with highly promising projects, prioritising keeping the price of its stock at high levels. Haravgi also points out, citing Ellinas, that the main reason Chevron has purchased Noble Energy seems to be the company’s shale reserves in the US.
Ellinas also told the newspaper that DELEK has been facing financial issues and could end up selling its shares as well.
A consortium made up of Noble, Shell and Delek had agreed with the RoC in November to move forward with developing the Aphrodite gas field, Politis notes. The initial agreement was that natural gas would be ready for export by 2025. Until then, natural gas would be piped to Egypt’s Idku terminal where it would be bought by the terminal’s administrator, Shell.
Politis also recalls that the timetable that had been agreed was already due to change due to the effects of the pandemic. The next planned stop in the timetable is a second confirmatory drilling in Aphrodite within 2021.
The newspaper cites information that the transfer of the right to manage the Aphrodite gas field will need to be approved by the Cabinet of Ministers of the RoC, though this is expected to move forward with no trouble. Politis recalls that a similar situation took place when Noble handed over some of its rights to block 12 to British Gas.
Anastasiades calls on EU to be decisive regarding Turkey
Alithia, Cyprus Mail, Haravgi, Phileleftheros, Politis
Negotiations Process, External Security, Energy, Regional/ International Relations, EU Matters
OVERVIEW
President Anastasiades said that it is time for the EU to form a decisive stance regarding its relations with Turkey. In a written statement issued from Brussels on the occasion of the anniversary of the 1974 invasion, where Anastasiades was participating in the European Council, he pointed out that the EU should show Turkey that it will pay a cost for its behaviour through appropriate measures.
Anastasiades pointed out that 46 years after the invasion, Turkey continues to intervene in Libya and Syria and to infringe on Cyprus’s EEZ, while it continues to threaten Greece and turns the Hagia Sophia into a mosque.
In his own statements regarding the anniversary, Greek prime minister Kyriakos Mitsotakis said that Turkey, instead of looking at its own actions with a critical eye, chooses to distance itself from international law, from Europe and modern values. He added that Greece reacts to this with maturity and pushes for dialogue.
President Anastasiades will meet French President Emmanuel Macron in Paris on Thursday, to discuss issues high on the EU’s agenda but mainly the situation in the Eastern Mediterranean, the Presidency announced. Anastasiades and Macron had agreed on the visit during a short discussion on the margins of last weekend’s European Council. The meeting of the National Council that had been planned for Tuesday in order for Anastasiades to inform G/C party leaders will take place next Tuesday, July 28th.
Meanwhile, Turkish President Erdogan’s advisor Ibrahim Kalin told journalists that Greece and Turkey are continuing contacts on the basis agreed during a trilateral that took place in Berlin between himself and close advisors to prime minister Mitsotakis and chancellor Merkel.
Kalin said that Ankara has suggested that the G/C and the T/C side negotiate over contested areas around the island, and added that drillings can either be joint or separate. Kalin also repeated that Turkey is ready to discuss energy in the Eastern Mediterranean and noted that the only country they cannot discuss with is the “G/C sector” which Turkey does not recognise.
In a related development, the dailies report that the UNSG’s representative, Elizabeth Spehar, was expected late on Monday to brief the Security Council ahead of the vote on the renewal of UNFICYP’s mandate on July 29th. The Cyprus News Agency reports that Spehar would not make statements after the briefing.
Politis reports that Germany, which hold the presidency of the Security Council during July, immediately commented on the briefing. The German representation at the UN tweeted that the UNSG’s report shows that there is no progress in the negotiations while tensions increase, and calls on the side to return to the negotiation table.
Newspapers extensively cover statements made by Turkish President Tayip Erdogan as well as Vice President Fuat Oktay on the occasion of the anniversary of the 1974 invasion. Erdogan said that the 1974 operation showed the world what would happen if the rights of the T/Cs are violated. He added that the G/Cs should accept the T/Cs’ political equality and their rights over the island’s natural gas without delay. Erdogan also said that Turkey and the T/Cs have shown they have the political will to work for peace and cooperation, but that does not mean they will sacrifice T/C rights.
Dailies also report on the accusations fired by T/C “prime minister” Ersin Tatar against T/C leader Mustafa Akinci in an interview in government-affiliated Turkish newspaper Yeni Safak. Tatar accused Akinci that his actions allowed the system of guarantees to become a subject of negotiation, and noted the G/C side’s position that a solution would mean an end to the old security arrangements. He added that there is currently a game going on in the region with a plan to make T/Cs a minority in a united Cyprus.