Cyprus/Egypt Pipeline to Top $800 Million

Wednesday, May 9, 2018

The planned pipeline that will connect the Aphrodite gas field offshore Cyprus to Egypt’s LNG facilities will cost between $800 million and $1 billion, according to Egyptian Petroleum Minister Tarek El Molla.

Molla, speaking at a joint news conference with Cyprus Energy Minister Yiorgos Lakkotrypis, said Cypriot gas would be used in part for domestic consumption and in part for export.

Lakkotrypis said a final agreement on the pipeline would be signed as quickly as possible but did not specify when.

Egypt hopes to halt gas imports by 2019 and achieve self-sufficiency.

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