Egypt reached an agreement with Cyprus on a pipeline connecting the latter’s Aphrodite gas field in block 12 to Egypt, the Cypriot state TV announced.
The agreement will be signed in the fall, CYBC continued. The agreement has already been given the green light by the EU and it is being scrutinized for the final touches, CYBC added citing diplomatic sources.
The two countries had signed a preliminary agreement to transport natural gas from Cyprus to Egypt to be liquefied at Egypt’s LNG facilities and re-exported to Europe and other markets.
The pipeline will be a major step for Egypt toward its goal to be an east Mediterranean gas hub. The country is now heading through natural gas self-sufficiency powered by Zohr’s production increase. Oil Minister announced several times that Egypt will cover its domestic demand of gas by the end of 2018 and will start exporting in 2019.
