Israel and Cyprus near agreement on Aphrodite–Ishai gas field

Israel and Cyprus are close to concluding a bilateral agreement on the Aphrodite–Ishai natural gas field, according to officials and reporting in both countries. The talks address unresolved issues linked to the cross-border reservoir and are intended to set the legal and operational basis for development.

The Aphrodite gas field, discovered in 2011 in Cyprus’ offshore Block 12, extends into Israeli waters, where it is referred to as Ishai. Its cross-border structure has required a unitisation arrangement between the two governments, a process that has delayed progress for years despite confirmed gas resources.

Greek, Cypriot and Israeli media cite informed sources saying negotiations have reached a final stage. Neither side has announced a signing date, and the final terms have not been made public. Officials have indicated that the agreement would define how the reservoir is jointly managed and how responsibilities between the two states are allocated.

The field is operated by a consortium led by Chevron, alongside Shell and NewMed Energy. Aphrodite is estimated to contain about 4.5 trillion cubic feet of recoverable natural gas. Development has not yet begun.

A bilateral framework is required before operators can move toward development decisions, including investment planning and export options. Until such an agreement is in place, the project has remained stalled.

Bosphorus News has previously reported on the Cronos gas field off Cyprus, where project planning has advanced under a separate structure. Together, the Aphrodite–Ishai talks and the Cronos project show how eastern Mediterranean gas development is proceeding on a field-by-field basis rather than through broader regional arrangements.