The initial estimation of the “Aphrodite’s” gas field resources, which were discovered in Cyprus's exclusive economic zone (Block 12) at the end of 2011, was a mean gross amount of gas of about 7 TCF (trillion cubic feet). The conversion of natural gas to liquefied form (LNG) and its export to the international markets, qualified as the optimum option for exploitation.
For this purpose, Noble Energy International Ltd, which was the Operator of hydrocarbons exploration activities in Block 12, evaluated the possibility of constructing and operating an onshore Liquefaction Natural Gas Plant (LNG Plant) in the Vasilikos industrial area.
This area was selected for the development of the project as:
Noble's design for the LNG Plant included facilities for reception, processing and liquefying natural gas, power plant, other supporting and auxiliary services, operation control center, LNG storage tanks, jetty for loading LNG carriers and a jetty for unloading equipment and materials for the production process.
According to a relevant study prepared by Noble, the specific area can accommodate up to three LNG production units (LNG Trains), with a nominal capacity of 5 MTPA (million tonnes per year) each. Moreover, the initial scenario for the LNG Plant included the construction of two LNG storage tanks with a capacity of 180,000 m3 each, with the provision to expand with a third one.
However, the unsuccessful results of the exploration wells drilled in Block 9 ("Onasagoras 1" & "Amathusa 1"), as well as newer lower estimates regarding the gas reserves in the "Aphrodite" field after it was appraised in 2013, have adversely affected the viability of the onshore LNG Plant, which currently is on hold.
The construction of the LNG Plant is fully in line with Cyprus' energy policy to reduce the cost of electricity to consumers, which will support the country's competitiveness and consequently sustainable development of the economy. The reduction of electricity prices can be achieved by transporting low-cost natural gas by pipeline from the Eastern Mediterranean fields to Cyprus, in combination with the construction of the LNG Plant at Vasiliko Energy Center for export purposes.
