Register | Forgot Your Password? | Close

NICOSIA, Cyprus (AP) - Cyprus and French energy company Total have agreed to cooperate on developing a planned natural gas processing facility in the bailed-out country.

In a statement Thursday, they say a facility that will liquefy gas for export to European and Asian markets will be their top priority as they try to turn a profit on any newfound offshore deposits.

Total is licensed to search for gas in two areas, or `blocks', off Cyprus' south coast.

Cyprus has already signed a similar deal with U.S. firm Noble Energy and Israel's Delek and Avner. The three companies are partners in a Cypriot gas field that's estimated to contain 3.6-6 trillion cubic feet of gas.

Cyprus has also licensed Italy's ENI and South Korea's Kogas to search for offshore gas.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus