UAE’s ADNOC previously entered a consortium with BP to acquire a 50% stake in Israel’s NewMed project. However, following the Gaza War, ADNOC decided to halt the deal due to different geopolitical concerns.
ADNOC is now looking at other Eastern Mediterranean (EastMed) options, including acreage in Cyprus.
This note dives into the following key aspects:
- ADNOC EastMed strategy
- ADNOC interest in Cyprus
The note also sheds light on ADNOC awaiting new opportunities in Cyprus to move in.
