Chevron and Shell, along with NewMed Energy, have submitted a development plan concerning the offshore Aphrodite natural gas field for Cypriot government approval. The consortium intends to connect the field to an existing processing and production facility in Egypt via a subsea pipeline. Discovered in 2011, the Aphrodite field, 160 km south of Limassol, and 30 km northwest of the Leviathan field (Israel), holds an estimated 124 bcm of gas. Chevron and Shell each hold a 35% share in the field, while NewMed has a 30% stake.
Previously, the Aphrodite and the Leviathan gas fields were due to be connected to Europe via the 12 bcm/year EastMed pipeline, a project developed by IGI Poseidon, a 50-50% joint venture between DEPA (Greece) and Edison (Italy). However, in January 2022, the United States withdrew its support to the pipeline, stating that it was shifting its focus to electricity interconnectors that can support both gas and renewables.