NICOSIA, Jan 25 (NNN-CNA) – Cyprus and Egypt have reached an agreement, to export natural gas from Cypriot fields, in the eastern Mediterranean, for liquefaction at Egyptian plants, President Nikos Christodoulides announced, yesterday.
In a statement on X, Christodoulides confirmed plans, to sign the agreement with Egyptian President, Abdel Fattah Al-Sisi in Cairo on Feb 17.
The agreement covers the exploitation of two key Cypriot gas fields: Saturn, off Cyprus’s south-west coast, and Aphrodite, located to the south-east.
Natural gas from these fields will be transported to Egyptian liquefaction facilities at Idku and Damietta, near Alexandria, before being exported as liquefied natural gas (LNG) to third countries.
Egyptian Petroleum Minister, Karim Badawi, emphasised the strategic significance of the agreement, which he said, bolsters Egypt-Cyprus cooperation. “This deal unlocks the potential of Cypriot natural gas and maximises Egypt’s infrastructure through a clear, fast-tracked action plan,” Badawi noted.
The two fields are estimated to contain about four trillion cubic feet of natural gas each. This development reinforces the eastern Mediterranean’s role as a burgeoning natural gas hub, with Cyprus’s Aphrodite field among the region’s most prominent reserves.– NNN-CNA
