NICOSIA, Nov 13 (Reuters) - Cyprus is considering a new

licensing round for offshore natural gas exploration as demand

remains strong despite global attempts to move away from fossil

fuels, its energy minister said.

Tucked in the north-eastern corner of the Mediterranean,

Cyprus has reported several discoveries since 2011 containing an

estimated 15-16 trillion cubic feet (tcf) of untapped natural

gas - the equivalent of nearly half the yearly output of the

United States, the world's largest producer.

That has spurred interest from international companies amid

uncertainty about supplies from Russia since its full-scale

invasion of Ukraine in 2022, and about the future of new

liquefied natural gas projects.

"We are in the process of evaluating potential interest,"

Energy Minister George Papanastasiou told Reuters when asked

about the potential for a new licensing round. "Upon seeing some

interest we may decide to go for another licensing round, yes."

The east Mediterranean has yielded major gas discoveries in

the past decade, mostly off Israel and Egypt. Cyprus has 13

offshore blocks, 10 of which are under licence to energy majors

including Eni, Exxon Mobil Chevron and

TotalEnergies.

Blocks on offer could be either those not under licence, or

blocks where operators may wish to relinquish their licence,

Papanastasiou said, without going into detail.

"If we see any evidence that some of these blocks may be

released, we may decide to go for another licensing round," he

said.

Papanastasiou, who worked with energy majors for 40 years

before his appointment as energy minister in 2022, was recently

in Abu Dhabi, where he had contacts with senior officials of

United Arab Emirates' giant Abu Dhabi National Oil Co. (ADNOC).

The potential for the region was continuing to generate

interest, he said.

"We need to develop this wealth ... and this is what we

intend to do," he said.

Cyprus has a target of generating 33% of its energy from

renewable sources by 2030, up from 19% today. But despite almost

year-round sunshine, a lack of power storage and an ageing grid

have limited renewable output, especially for solar.

In the coming weeks, authorities will launch tenders for

solar battery storage facilities that will help meet those

targets, the minister said.

"We believe it is achievable" to meet the targets, he said.

Still, he acknowledged that natural gas was attractive - it

is less polluting and cheaper than the heavy fuel oil now firing

the grid.

"Natural gas still has a few decades of survival, of life in

this (energy) mix."

Papanastasiou said he anticipated a gas field discovered in

2022 by Italy's Eni and France's TotalEnergies would be the

first to enter production, around 2027, while another operated

by U.S major Chevron ( CVX ) would be closer to 2029 or 2030.