Nicosia.- The Cypriot Government is monitoring the issue that has arisen with energy companies Noble and Delek in Israel, a government source told CNA on Saturday.

The Jerusalem Post wrote on Wednesday that Israel`s Antitrust Authority commissioner David Gilo announced that a proposed consent decree regarding the entry of the Delek Group and Noble Energy into Leviathan would not be submitted to the Antitrust Tribunal for approval and the Energy Ministry warned that freezing development of natural gas reservoir could have serious geopolitical and fiscal implications on Israel.

A source from the government of Cyprus did not comment on the issue saying it concerned internal processes of a neighboring country.

The same source added that the government is monitoring and assessing the developments.

Cyprus is currently developing natural resources discovered within its EEZ, while several international companies are involved in hydrocarbon exploration and exploitation activities.

Exploration and appraisal drilling in “Aphrodite”, in block 12 by Noble Energy and Delek has shown estimated reserves of 3.6 Tcf to 6 Tcf, namely 5 Tcf.