Cyprus and Egypt have signed a framework agreement aimed at advancing the development of natural gas deposits within Cyprus’ exclusive economic zone (EEZ), including the Kronos and Aphrodite fields, in a move to deepen bilateral energy cooperation.
The agreement was signed on Monday in Cairo during the EGYPES 2026 Conference by Cyprus’ Minister of Energy, Commerce and Industry and his Egyptian counterparts, in the presence of President Nikos Christodoulides and Egyptian President Abdel Fattah al-Sisi.
According to an official announcement, the agreement establishes the basis for negotiations between the two countries through a joint committee to be formed. The committee will explore arrangements for the sale of Cypriot natural gas to Egypt or Egyptian state-owned entities, with the aim of optimising the utilisation of Cyprus’ hydrocarbon reserves while contributing to Egypt’s energy needs.
The framework agreement is non-binding and is intended to pave the way for further, more detailed agreements on the commercialisation and development of Cyprus’ offshore resources. Authorities said the initiative reflects a “shared ambition to maximise cooperation in the hydrocarbons sector and strengthen strategic energy ties between the two countries.”
The inclusion of the Kronos and Aphrodite fields -two of Cyprus’ most significant offshore discoveries- underscores the potential scale of the partnership, as the Republic continues efforts to monetise its natural gas reserves through regional infrastructure and export agreements.
The signing comes amid broader discussions on energy collaboration between Cyprus and Egypt, with both sides positioning themselves as key players in the Eastern Mediterranean energy landscape.
(Source: CNA)
