BREAKING NEWS

Cyprus: Israel's Delek seeks gas cooperation

By ASSOCIATED PRESS

JANUARY 17, 2011 20:33

Cyprus' commerce minister says Israeli energy firm Delek Group is seeking to work with Cyprus on natural gas.

Antonis Paschalides said on Monday that Delek has expressed interest for cooperation on natural gas. He didn't elaborate or disclose any details.

The east Mediterranean island is currently negotiating with bidders on a deal for the supply of liquefied natural gas for its energy needs.

Delek is part of a consortium led by Texas-based Noble Energy Inc. exploiting massive natural gas finds off Israel's coast that could turn the country into a major gas producer.

Cyprus has licensed Noble to explore an 800,000-acre (1,250-square-mile) area bordering Israeli waters where the Israeli gas fields have been found under the seabed.

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