Exxon's Cyprus gas discovery adds another giant to East Med collection | Reuters

Exxon's Cyprus gas discovery adds another giant to East Med collection | Reuters:

ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could be far off.

Exxon, together with partner Qatar Petroleum (QP), estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas, similar order of magnitude to the Aphrodite and Calypso gas finds nearby, also in Cypriot waters.

The region’s gas output has begun to soar thanks to older discoveries finally bearing fruit. Israel’s Leviathan field, found in 2010 with around 22 tcf, will fully come online in November, though the 2015 Zohr discovery offshore Egypt with up to 30 tcf is already producing.