Net revenue from Cyprus' 'Aphrodite' valued at 9.5 mln USD

Wednesday, 05 June 2019 19:39
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Net revenue for the Republic of Cyprus from the sale of natural gas from the "Aphrodite" offshore deposit to  Egypt's Idku LNG terminal are worth 9.5 billion USD, based on an agreement between the island republic's energy ministry with the Noble-Shell-Delek consortium.

According to a dispatched by philenews, the revenues calculation is based on the average benchmark for Brent oil, which is linked to the sale price for natural gas, i.e. 70 USD per barrel, and with the deposit projected to produce for 18 years.

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