Cyprus Gas Field Development Gets $4 Billion Price Tag

The consortium developing the Aphrodite gas field offshore Cyprus has submitted a development plan to the country’s government putting the price tag for the field at $4 billion, Reuters has reported, citing one of the partners. “According to the updated plan, the production and processing of natural gas from the reservoir will be carried out through the construction of an independent floating production facility to be positioned above the Aphrodite reservoir,” Israeli NewMed Energy said. NewMed Energy partners with Chevron and…