Israel and Cyprus have reached an understanding over gas reserves straddling their maritime border, the Cypriot energy minister said on Tuesday, in a key step towards resolving a nine-year impasse over offshore spoils.
Development of the Aphrodite gas field in Cypriot waters has been held up because a small part of it stretches into Israel's maritime zone. The field was first discovered in 2011.
Cypriot energy minister Natasa Pilides said she and her Israeli counterpart Yuval Steinitz had agreed upon a framework to resolve the issue, and guidelines would be passed on to the companies involved in the project.