Economy category powered by

Cyprus gas field is expected to be connected to Egypt, Egyptian Ministry suggests

Cyprus’ Cronos natural gas field is expected to be linked to Egypt’s gas infrastructure by 2027, according to a statement from Egypt’s Ministry of Petroleum & Mineral Resources.

The statement was released after meetings in Cyprus attended by Karim Badawi, Egypt’s minister of petroleum and mineral resources, and George Papanastasiou, Cyprus’ minister of energy, commerce and industry, the Egyptian media has reported.

The meetings were also attended by representatives from the Italian oil and gas company Eni and France’s TotalEnergies.

"Officials are preparing to make their final investment decision (FID) for the development of the field later this year and link the field to Egyptian infrastructure, processing facilities and machinery by 2027, according to the statement," MMED Middle Easter Business Intelligence reported.

Badawi said that Egypt is ready to help complete the project and that providing a new energy corridor in the region would strengthen regional cooperation and benefit both countries.

The ministers also reviewed developments at Cyprus’ Aphrodite field, including the marine surveying of the planned gas pipeline, the report said, adding that, "The survey is currently under way in the economic waters of both Cyprus and Egypt, and is expected to pave the way for a link from Aphrodite to Egyptian facilities."

Also read: Egypt's Minister of Petroleum holding meetings in Nicosia

Read More

RoC submitting interest in EU's 'SAFE' regulation, Defence Minister confirms
One Island-One Heart Charity Music Marathon for Cyprus to support wildfire-affected families
Formulaw.ai co-founders highlight Fotiamap free fire-reporting tool
Study commissioned on the construction of a land-based electricity supply system at new Limassol port
Restoring power in fire-stricken areas a time-consuming process, EAC spokesperson says
Small Cyprus wants to leave its footprint during its EU Presidency, Deputy Minister says
MHV enters €20m bond loan programme and subscription agreement with Prodea
Kyndryl partners with Microsoft to launch the Kyndryl Microsoft Acceleration Hub
Cyprus gas field is expected to be connected to Egypt, Egyptian Ministry suggests
Life Realty Exclusive Summer Deals – 50 Exceptional Apartments and Houses!