Cyprus Approves LNG Terminal Deal With Noble, Delek, Avner

Cyprus approved today a provisional deal with Texas-based Noble Energy Inc. (NBL) and two Israeli companies for the construction of an onshore liquefied natural gas terminal, deputy government spokesman Viktoras Papadopoulos said.

The Cypriot government approved a decision to sign the memorandum of understanding with Noble, Delek Drilling LP and Avner Oil Exploration LLP (AVNRL), Papadopoulos said in Nicosia today, according to a transcript of his comments on the Cyprus government press office website.

Noble, Delek and Avner are already partners in Israel where Noble has a 36 percent stake in the Tamar natural gas field and the two Israeli companies each has a 15.6 percent stake.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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