According to a recent report by the Cyprus Mail, Israeli energy company — Delek Group announced a joint bid for Cyprus natural gas procurement along with the American company Noble. Delek stated that the submitted bid proposal is designed based on the expected development schedule of the Leviathan gas field in Israel, in compliance with the gas supply agreement signed with the Cypriot government. Other companies bidding for this natural gas procurement include the Dutch company Vitol and a consortium from Greece. It is estimated that the scale of this Cyprus natural gas procurement reaches 3 billion euros.
Deutsche Bank Plans to Participate in Huge Financing for Cyprus Gas Development Project
According to the Cyprus Mail on April 24, a senior delegation from Deutsche Bank (DB) will visit Cyprus soon to discuss financing options for the liquefaction plant project. Reports indicate that the Cypriot government intends to invite investment institutions from Europe to directly finance the gas development project, while also considering seeking third-party investment institutions to participate in project financing. A delegation from the European Investment Bank (EIB) will also visit Cyprus next month regarding project financing issues. As offshore gas exploration and extraction continue to advance, the Cypriot government is expediting the preliminary preparations for the gas liquefaction plant and related infrastructure, with an expected funding requirement of 20 billion euros.
