Karim Badawi, Minister of Petroleum and Mineral Resources, reaffirmed Egypt’s commitment to strengthening cooperation with Cyprus and turning discovered gas resources into production and commercial projects, while leveraging Egypt’s integrated infrastructure for receiving produced gas, processing and liquefying it, and supporting regional cooperation and energy security.
This came at a meeting with Michael Damianos, Cypriot Minister of Energy, Commerce and Industry, on the sidelines of the East Mediterranean Gas Forum (EMGF) roundtable in Greece to discuss developments in natural gas cooperation and efforts to accelerate the development of Cypriot gas resources through Egypt’s integrated infrastructure.
The meeting covered developments in Cyprus’ Cronos gas field, with both sides stressing the need to accelerate the completion of the work and arrangements required to connect gas produced from the field to Egypt’s infrastructure.
The project reached the final investment decision (FID) in July by the Italian Eni and French TotalEnergies consortium, with gas production from the field -equivalent to around 2.8 million tons per year (mmt/y) of liquefied natural gas (LNG)-targeted to begin in 2028.
Under the development concept, Cronos gas will be transported to Egypt through existing infrastructure before being processed and liquefied at the Damietta LNG facility for export to international markets, primarily Europe. The project is expected to produce around 500 million cubic feet per day (mmcf/d).
The ministers also discussed developments in Aphrodite, another Cypriot gas field with an estimated 3–6 trillion cubic feet of natural gas, and stressed the importance of accelerating the completion of the agreements and arrangements required for its development.
Egypt, Cyprus and the project partners will continue coordination to complete the commercial and regulatory frameworks needed to supply the gas and make progress toward an FID and the start of project implementation, according to the petroleum ministry’s statement.
In April, the Egyptian Natural Gas Holding Company (EGAS) signed a 15-year agreement to purchase the entire output of Cyprus’ Aphrodite gas field, with an option to extend the deal by an additional five years.
Damianos told Middle East Economic Survey (MEES) in August that Aphrodite partners remain on track to take a final investment decision (FID) in 2027, with first gas targeted for around 2030-2031
Moreover, Badawi stressed the need to accelerate the activation of a memorandum of understanding (MoU) signed between Egypt and US ExxonMobil and QatarEnergy, both of which are partners in Cyprus’s Glaucus gas field with a 40%. The MoU, signed in May, aims to examine options for developing and marketing Cypriot gas and using Egypt’s infrastructure to receive, liquefy and re-export the gas through Egypt.
During Badawi’s speech at the EMGF’s roundtable, he said Egypt-Cyprus gas cooperation has moved from a strategic partnership toward commercial arrangements and projects on the ground to develop Cypriot gas resources using Egypt’s infrastructure.
The roundtable discussed means to transition Eastern Mediterranean gas resources from the dialogue phase to the actual implementation of economically viable projects.
Badawi noted the growing importance of regional cooperation in the gas sector amidst geopolitical challenges and their impact on energy security, noting that the Eastern Mediterranean possesses promising gas resources, while Egypt holds the necessary infrastructure to harness them, in addition to a geographic location that connects producing nations to European markets.
He also reflected on the regional energy cooperation between Egypt, Cyprus, and Greece, noting that the summit held in El Alamein last September underscored the importance of energy security, the accelerated development of Cypriot gas resources, and enhanced connectivity among the three nations. Greece’s tole evolve in its capacity to receive and regasify LNG, creating opportunities to boost the flow of Eastern Mediterranean gas to European markets.
The post Egypt, Cyprus Push to Accelerate Gas Connection Projects at EMGF Roundtable first appeared on Egypt Oil & Gas.
