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Thursday, September 1, 2016
Egypt and Cyprus have signed a deal that will see Cyprian natural gas exported to Egypt via pipeline once it starts producing from the discoveries made by US independent Noble Energy.
The US firm discovered an estimated 4.5 Tcf of natural gas in one prospect in late-2011.
The agreement between the two governments was signed in the small island nation’s capitol of Nicosia by Egyptian Petroleum Minister Tarek El Molla and Cypriot Energy Minister Yiorgios Lakkotrypis.
A joint statement issued by both ministries said the deal would allow a direct subsea pipeline from the exclusive economic zone (EEZ) of Cyprus to either Egypt’s EEZ or onshore Egypt, for domestic consumption or re-export.
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