European majors Eni and TotalEnergies, 50:50 partners at the 3.1tcf (gas in place) Cronos field offshore Cyprus, had hoped to announce a final investment decision (FID) at the Egypt Energy Show (EGYPES) in Cairo on 30 March. However, there was no announcement amid a continued standoff with the Cypriot government over contractual liabilities (MEES, 27 March).
Cyprus continues to insist that Eni and Total should take on liability for cost overruns at the project, as well as any liabilities related to a potential failure to meet contractual gas commitments. (CONTINUED – 812 WORDS)
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