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LNG TERMINAL IN CYPRUS

LNG TERMINAL IN CYPRUS. Scenarios about the construction of LNG terminal in Cyprus from a Game Theory Perspective. Tsolakos Dimitrios (MEN18059) Vrapi Melissa (MEN18014). Introduction. Exploitation Timeline in Cyprus’ EEZ. Fig. 1. Energy map of Eastern Mediterranean.

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LNG TERMINAL IN CYPRUS

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  1. LNG TERMINAL IN CYPRUS Scenarios about the construction of LNG terminal in Cyprus from a Game Theory Perspective Tsolakos Dimitrios (MEN18059) Vrapi Melissa (MEN18014)

  2. Introduction

  3. Exploitation Timeline in Cyprus’ EEZ

  4. Fig. 1. Energy map of Eastern Mediterranean

  5. Exploitation Timeline in Cyprus’ EEZ

  6. Exploitation Timeline in Cyprus’ EEZ – Drilling process

  7. Table 1. Offshore blocks in Cyprus’ EEZ

  8. Fig. 2. Prospects for bringing gas-to-market in the eastern Mediterranean

  9. EastMed pipeline as an alternative

  10. EastMed pipeline as an alternative • In addition to company surveys, others expected in 2019, there are other parallel processes. It is, however, clear that although the EastMed pipeline is being maintained, it is a very difficult task, which everyone recognizes. • The pipeline, which is one of the most important alternative gas export projects in the South East Mediterranean, is planned to cross the Israeli, Cypriot and Greek EEZs to Greece and from there to join the submarine pipeline that ends in Otranto, from where it will begin its disposal in the countries of Europe. • An important $ 7 billion, 2.200-kilometer long project, which also faces unprecedented technical challenges due to the deep depth and embossed depth in which it will be installed. The US supports the East Med pipeline for geostrategic reasons without, of course, excluding other alternative ways of exporting gas either through the LNG terminals of Egypt or via a new LNG terminal in Cyprus.

  11. Game Theory in Eastern Mediterranean • At this period, in Eastern Mediterranean three countries carry out natural gas exploitation and extraction, Cyprus, Israel and Egypt. The common demand for all three countries is the commercial exploitation of deposits through exports or domestic consumption. Cooperative Game • In the context of this analysis, we will present the option of building a LNG terminal in Cyprus through the cooperation of Cyprus with Israel.

  12. Israel – Cyprus Cooperation Game • From a game theory perspective, there are four basic scenarios for the construction of a LNG terminal in Cyprus that will tackle the future of the economic development of Cyprus-Israel-Egypt and the EU’s energy security. Table 2. Israel – Cyprus Cooperation Game

  13. REFERENCES • Interim Report for the Study: Natural Gas Monetization Pathways for Cyprus, Published on October 2013, http://energy.mit.edu • The Republic of Cyprus, Ministry of Energy, Trade and Industry 2015 - 2019, Hydrocarbon Service, www.mcit.gov.cy/ • Energy press, "The deal was signed for the first LNG terminal in Cyprus" Posted on June 26,2013, http://www.energypress.gr . • James Kanter, “Europe Seeks Alternative to Russian Gas,” the New York Times, February 16 2016, available at https://www.nytimes.com/2016/02/17/business/energy-environment/european-union-seeks-to-reduce-reliance-on-russian-gas.html?_r=0. • LNG World News Staff, « Cyprus: several factors to determine LNG developments» Posted on April 19, 2016, https://www.lngworldnews.com . • Yannis Antoniou "After 2020, the extraction and sale of gas in Cyprus" Posted on May 19, 2016, http://www.euractiv.gr . • LNG World News Staff, “Cyprus, Egypt sign gas supply deal” Posted on August 31, 2016, https://www.lngworldnews.com . • Peter Baker, “For Israel, Energy Boom Could Make Friends Out of Enemies,” the New York Times, January 17 2017, available at https://www.nytimes.com/2017/01/14/world/middleeast/israel-energy-boom.html?_r=0. • LNG World News Staff, «Qatar Petroleum and ExxonMobil ink Cyprus exploration deal» Posted on April 5, 2017, https://www.lngworldnews.com. • TareqBaconi, Pipelines and Pipedreams: How the EU can support a regional gas hub in the Eastern Mediterranean, Posted on April 21, 2017, https://www.ecfr.eu • «The discovery of a new Zor as a game changer » Posted on April 27, 2017, http://www.energypress.gr . • LNG World News Staff «Cyprus issues tender for LNG terminal» Posted on October 5,2018, https://www.lngworldnews.com. • Kostas Venizelos "Exxon Mobil insists on a natural gas terminal in Cyprus" Posted on December 2, 2018, http://www.philenews.com . • Manolis Kalatzis "Frustration in Cyprus from the First Drilling" Posted on January 10,2019, https://politis.com.cy . • Petros Theocharides «Cyprus: LNG terminal is waiting for Glaucus » Posted on January 30, 2019 http://www.energypress.gr . • Theodoros Tsakiris "Analysis:The discovery of Glaucus and the Cypriot LNG terminal", Posted on February 2, 2019 http://www.kathimerini.gr . • Apostolos Tomaras " ExxonMobil to new drilling in block 10 of the Cypriot’s EEZ" Posted on February 28, 2019, (Daily Cyprus, https://www.kathimerini.com.cy/ , - tomarasa@kathimerini.com.cy-). • «Gold» in Cyprus: When can the huge natural gas field be utilized Posted on March 1, 2019, https://www.tanea.gr . • Manolis Kalatzis “Glaucos re-shares the deck in Cyprus” Posted on March 9, 2019, https://protothema.gr/ . • Nikos Meletis "EastMed: The $ 7 Billion Path" Posted on March 17, 2019, https://www.liberal.gr . • Kostas Venizelos "The priority for Nicosia and ExxonMobil is the liquefaction center" Posted on March 24, 2019, http://www.real.gr .

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