bill cobbett wrote:Hermes wrote:Further moves on the gas front. Looks like Gazprom are looking to set up a base in Limassol:Gazprom: Installed in Limassol?
In the publication 'In-Business', the Russian giant Gazprom is in negotiations to secure a piece of land in Limassol, in order to construct a building that will house the headquarters for operations relating to Cyprus.
According to sources, not officially confirmed, strong rumours in recent days from financial circles in Limassol are not far from reality.
Strong rumors also talk about expanding the work of Gazprom in Cyprus in energy activities and there is a Russian bank interest and investment services firm in Limassol.
According to the same information from economic and political circles of Thessaloniki, the Russian consortium intends and is able to secure a plot in the Cyprus EEZ, for research and extraction of natural gas.
Indeed, some link the loan of EUR 2.5 billion from Russian banks with interest by the gas company for a plot in the EEZ of the Republic.
http://www.simerini.com.cy/
Ooooh nice one Hermy,
Also in the same article and for the first time that have seen is an % take for the Republic... Sigma gives it as 85% of the profit for oil and 75% of the profit for gas. If these figs are accurate, they do seem very good for the Republic.
Also another range of estimates of between 9 and 12 trillion cf for Aphrodite.
The article also brings up the question of which to extract first the oil or the gas. Oil can be extracted very quickly, and they are saying within a remarkable 6 months.
This is what the article says about the oil... and the amounts of money are massively, hugely, way, way beyond eye-watering staggering...
Under the contract with Noble Energy, the profit rate for the Republic of oil is 85% and gas 75%.
The cost of extracting oil is about $ 30 a barrel. The amount estimated to contain the plot is approximately 12 290 (?) to 300,000,000,000 barrels and the price is over $ 100 a barrel. The mining can be done at 6 months and sell it directly.
Surely this is the quickest way to immediate profit, within a semester, but with the agreement made with Noble Energy, left the company alone to decide the first extraction of natural gas or oil.
Bill, surely Noble Energy must first get permission from Ankara on what must they extract first!
Ankara did warn everyone, that nothing can be done in the Eastern Mediterranean without their approval first, and that that's why they have a Navy for, to enforce it.
... yes the next 24 hours will be a very anxious time for all .... esp Turkey ... 
