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NICOSIA, Cyprus (AP) – A consortium made up of energy companies Eni of Italy and France´s Total is expediting plans to develop natural gas deposits off Cyprus following the discovery of a third field containing 2-3 trillion cubic feet of the hydrocarbon inside the same licensed exploration area, the Cypriot energy ministry said Wednesday.<br> The ministry announced the discovery at the “Zeus-1” well some 162 kilometers (100 miles) inside Block 6 off Cyprus southern coastline, at a depth of 2,300 meters (1.42 miles).<br> The field, containing a 105-meter (344-foot) column of gas is located just 5 kilometers (3 miles) west of the “Cronos-1” well where the consortium announced in August an estimated 2.5 trillion cubic feet of natural gas.<br> The consortium made its initial gas discovery in Block 6 in 2018 at the “Calypso-1” well, but hasn´t offered any estimates yet as to its size.<br> The ministry said the newest discovery “reaffirms the promising potential of the area” as Cyprus looks to export the hydrocarbon amid an energy crisis compounded by Russia´s war in Ukraine.<br> Cypriot Energy Minister Natasa Pilides told The Associated Press on Monday that the amount of gas already discovered inside Cyprus´ offshore economic zone is conservatively estimated at 12-15 trillion cubic feet.

Other companies also holding exploration licenses for blocks inside Cyprus´ exclusive economic zone include Chevron and partners Dutch Shell and Israeli NewMed as well as ExxonMobil and partner Qatar Petroleum.<br> The Eni-Total consortium holds by far the most concessions – 7 of 13 blocs that make up Cyprus´ zone.<br> Chevron, Shell and NewMed are developing the Aphrodite field, estimated to hold approximately 4.25 trillion cubic feet of gas that´s expected to reach markets by 2027.<br> There´s enough natural gas in the east Mediterranean area for export until at least 2050, according to analyses by the East Mediterranean Gas Forum, a body composed of Greece, Italy, Egypt, Cyprus, Israel, France, Jordan and Palestine.<br>

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