Minister of Energy, Commerce and Industry Michalis Damianos will sign a Framework Agreement for the development of natural gas discoveries in the Exclusive Economic Zone of the Republic of Cyprus.
Cyprus aims for the first sale of Cypriot natural gas to Europe via Egypt in 2027-2028, President of the Republic Nikos Christodoulides has said.
In statements to the Press after participating in the 'Run for Autism'' charity race in Ayia Napa on Sunday, 29 March, and asked if new developments regarding the Cronos field are to be expected following his visit to Egypt on Monday, the President of the Republic said that the visit concerns exclusively energy issues.
“We will also sign something related to this. Our goal, and I believe we are on the right track after many years, let me remind you the first discovery within the exclusive economic zone of the Republic of Cyprus was made in 2011, and here we are in 2026 with no exploitation yet, is that around 2027–2028 we will have the first sale of Cypriot natural gas to Europe via Egypt,” he noted.
According to a press release by the Ministry, Damianos is in Cairo, where on Monday, 30 March, he will accompany President of the Republic Nikos Christodoulides to his meeting with President of the Arab Republic of Egypt, Abdel Fattah El-Sisi, which will take place on the sidelines of the EGYPES 2026 international energy exhibition and conference.
Damianos will sign, in the presence of the two Presidents, together with his counterpart, Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi, a Framework Agreement between Cyprus and Egypt for the development of natural gas discoveries in the Exclusive Economic Zone of the Republic of Cyprus, including the 'Cronos' and 'Aphrodite' fields.
He will then accompany President Christodoulides to a meeting with TotalEnergies CEO Patrick Pouyanné.
In the context of EGYPES 2026, the Minister will also participate in a Ministerial Roundtable Discussion on 'Energy priorities, geopolitical realities and national security.'
Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi, Minister of Energy and Water of Lebanon, Joseph Saddi, and Director General of the DG for Energy of the European Commission, Ditte Juul Jørgensen will participate in the discussion.
Moreover, the Cypriot Minister will have separate meetings with General Secretary of the international organization East Mediterranean Gas Forum, Osama Mobarez, as well as with senior executives of the companies BP, Arcius and ExxonMobil, the press release concludes.
(Source: CNA)
