Powering the Future
ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus
Key Points
- ExxonMobil announced on Thursday that it has made the world's third biggest natural gas discovery in two years off the coast of Cyprus in the Eastern Mediterranean.
- Based on preliminary interpretation of the well data, the discovery could represent a natural gas resource of approximately 5 trillion to 8 trillion cubic feet.
- The EU is considering developing a gas hub in the Mediterranean key to diversifying its energy sources and reducing its dependence on Russia.