Noble CEO says customers to sell gas “being identified”


Noble Energy CEO David Stover met with Cyprus President Nicos Anastasiades this week stating that new customers to sell gas to are currently being identified. 
Wednesday’s meeting came after Stover visited Israel, meeting with the government and Noble’s office there.
“We have a chance to meet with the [Cyprus] government and our office and update everyone on our plans and just check in with each other and understand how we are moving forward on the plans for Aphrodite [offshore gas field],” stated Stover.
“I think we can make progress, we brought in a new partner, the BG Group that is now moving into the shell portions and that is exciting for us, they are a very strong partners to help with the development of the project and they are still getting organised and consolidated but having good communication.”
Stover outlined that the next big development for the project now is Noble’s marketing efforts to identify the customers and line up where gas will be sold. “I think that is one of the key things that we are focused on, so that can support the development economics of the project,” he outlined.
Commenting on a timetable when the project will finish, Stover added: “I think the timing is going to depend on getting the customers lined up and then the negotiations with the customers.
“Once you have enough of an anchor supply or an anchor customer base then you can lay out a better time frame, so that will be the next key step.”
Following Cyprus first offshore licensing round a licence was awarded to Noble Energy in 2008 to explore and develop Block 12 which let in 2011 to the discovery of the Aphrodite gas field. Aphrodite holds 3.5 tcf of natural gas.