Cyprus gas could fuel Egypt’s LNG comeback - CYPRUS MAIL

Friday 28 August | 14:53

Souzana Psara

Egypt’s gas sector is running short of domestic supplies just as Cyprus prepares to become a producer, with the recently approved Kronos project offering benefits to both countries and Europe, according to an OilPrice report.

Natalia Katona said that the project offers a three-way bargain, with up to 2.8 million tonnes of liquefied natural gas (LNG) a year expected from 2028. Cyprus gains an export route it cannot economically build alone, Egypt secures feedstock for infrastructure increasingly constrained by falling domestic production, and Europe gains another non-Russian source. However, the report cautions that technical, commercial and geopolitical risks could still derail the emerging corridor.

Egypt’s need for new gas sources is becoming urgent. Natural gas production fell 7 per cent year on year to 109.3m cubic metres a day in the second quarter of 2026, extending a decline that began after national output peaked in 2021. The deterioration remains concentrated in the offshore Mediterranean, while stronger production in the onshore Western Desert has been insufficient to reverse the trend.

‘Goal is to sell first Cyprus gas in 2028’ - CYPRUS MAIL

Tuesday 19 May
Tom Cleaver

Cabinet on Tuesday approved the development and production plan for the Kronos gas field, which is located in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ), with President Nikos Christodoulides stressing the importance of the plan’s approval ahead of the day’s cabinet meeting.

“Let me remind you that the first discovery in the Republic of Cyprus’ Exclusive Economic Zone was in 2011, and 15 years later, we are taking, I believe, the most important decision regarding the state of natural gas exploitation,” he said.

He added that in addition to the development and production plan, cabinet would also approve “the agreements concerning the basic terms of sale of Cypriot natural gas”.

“This is a very important development for the utilisation of our country’s energy resources. The goal is to sell the first Cypriot natural gas to Europe through Egypt in 2028 and we are approving all the relevant agreements,” he said.

Cyprus, Energy Routes, and U.S. Interests in the Eastern Mediterranean - MIDDLE EAST FORUM

April 16, 2026

Nicoletta Kouroushi

Cyprus is moving to commercialize its natural gas through Egypt, using existing infrastructure to reach European markets. This reflects a broader shift in the Eastern Mediterranean, where energy influence depends less on ownership of resources and more on control of infrastructure and export routes.

Rather than Pursuing Large-Scale Infrastructure, States Increasingly Rely on Flexible Arrangements Built Around Existing Systems

The Cyprus-Egypt framework agreement establishes the basis for routing gas from offshore fields such as Kronos and Aphrodite to Egyptian liquefaction facilities for export. By relying on existing terminals, Cyprus reduces costs, shortens timelines, and avoids the political and technical risks associated with new pipeline projects.

The agreement strengthens Egypt’s role as a regional liquefied natural gas hub while providing Cyprus with its first export pathway.

Egypt to Buy Entire Output of Cyprus’s Aphrodite Gas Field in 15-Year Agreement - EGYPT OIL & GAS

Thursday, 9th April 2026

Sherine Samir

The Egyptian Natural Gas Holding Company (EGAS) has signed a 15‑year agreement to buy the entire output of the Cypriot Aphrodite gas field, with an option to extend the deal for an additional five years, Bloomberg reported, adding that the field would start production in about six years

EGAS signed the preliminary deal with the companies that operate the Aphrodite project and Cyprus’ state-run oil and gas firm, The Aphrodite partners, and Egypt also agreed on a framework to develop a gas transmission system off the Mediterranean coast, noted the news agency.

Cairo and the Aphrodite partners will set up a company under the name Aphrodite Midstream Co. in Egypt to implement the gas transmission system, noted Bloomberg, citing a statement by Newmed company, which owns a 30% stake in the Aphrodite license, while Chevron Corp. and Shell Plc hold 35% each.

Cypriot Cronos Natural Gas Field to be Connected to Egypt by 2027 - EGYP OIL & GAS

Sunday, 27th July 2025
Sarah Samir

Karim Badawi, the Minister of Petroleum and Mineral Resources, met with George Papanastasiou, Cypriot Minister of Energy, Commerce, and Industry, in Nicosia. Senior representatives from Eni and TotalEnergies also attended the meeting. The discussion focused on the progress of Cyprus’s Cronos natural gas field, which is scheduled to be linked to Egypt’s energy infrastructure by 2027.

Within the framework of the Steering Committee overseeing the development of Cyprus’s Cronos natural gas field, Egypt and Cyprus reiterated their commitment to the project’s agreed timelines. The committee further reviewed the status of the technical and implementation agreements, now in their final stages of preparation for a definitive investment decision expected this year.

Badawi stressed Egypt’s readiness to complete the project and establish a new regional energy corridor. He emphasized that this would enhance regional cooperation and benefit both countries. He also stressed Egypt’s commitment to removing any obstacles the project may encounter.

TotalEnergies and ENI sign an agreement with Cyprus and Egypt for the export of Cyprus Block 6 gas through Egypt - TOTALENERGIES

02/17/2025

Paris/Cairo, February 17, 2025 – In the presence of President of Egypt Abdel Fattah El-Sisi and President of Cyprus Níkos Christodoulídis, TotalEnergies and ENI, partners in Cyprus offshore Block 6 (TotalEnergies 50%, ENI 50% operator), have signed today a Host Government Agreement (HGA) with the Arab Republic of Egypt and the Republic of Cyprus related to the development of Block 6 gas resources.

Signed during the Egypt Energy Show (EGYPES) with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi, and the Minister of Energy, Commerce and Industry of the Republic of Cyprus, George Papanastasiou, this agreement is a key milestone towards the development of the Cronos gas field. Located in Cyprus Block 6, Cronos field was discovered in 2022 and successfully appraised in February 2024.

The agreement provides a framework allowing the Cronos gas to be processed in the existing Zohr facilities offshore Egypt and then liquefied in the Damietta LNG plant in Egypt, for export to European markets.

Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with Cyprus authorities.

ExxonMobil launches 'promising' exploration well off Cyprus, President says - REUTERS

NICOSIA, Jan 24 (Reuters) - ExxonMobil (XOM.N) and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.

The east Mediterranean has yielded some major gas discoveries in recent years, and a disruption in energy supplies from Russia after its 2022 invasion of Ukraine has sharpened Europe's attention on securing alternative sources of supply.

"Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the EU," Christodoulides wrote in his post.

He said drilling at the prospect, named Electra, got underway on Friday morning.

ExxonMobil executives have previously described Electra as 'highly promising'.

The company secured hydrocarbon exploration licences for Cyprus in 2017. Other multinationals in the region include U.S.'s Chevron (CVX.N), Italy's Eni (ENI.MI), and France's TotalEnergies (TTEF.PA).

Egypt and Eni-Total consortium to sign deal on processing Cypriot natural gas for export - ASSOCIATED PRESS

January 24, 2025
MENELAOS HADJICOSTIS

NICOSIA, Cyprus (AP) — Egypt and a consortium made up of energy companies Total of France and Italy’s Eni will next month sign a key agreement to transport natural gas from an undersea deposit inside Cypriot waters to Egypt where it will be liquefied and processed for export, officials said Friday.

Cypriot Energy Minister George Papanastasiou described the agreement as “most significant” because it allows the consortium to sort out all the technical details on how to get the gas from the Cronos gas deposit to Egyptian processing plants for liquefaction and eventual export to markets including Europe.

Papanastasiou said the Eni-Total consortium, which holds exploratory licenses for seven of 13 areas or blocks inside Cyprus’ offshore economic zone, will make a final decision on how it will extract and convey the gas before the summer this year.

A recent assessment indicates that Cronos is estimated to hold more than the Aphrodite deposit, the first major discovery inside Cypriot waters which is estimated to contain 4.2 trillion cubic feet of gas.

The so-called host-government agreement will be signed at Egypt’s energy summit that will be held between Feb. 17-19, said Egyptian Oil Minister Kadim Badawi, who met earlier with Cypriot President Nikos Christodoulides.

US backs Chevron in dispute with Cyprus over giant gas field - REUTERS

September 2, 20234:42 AM GMT+8

By Ron Bousso, Timothy Gardner and Michele Kambas

LONDON, Sept 1 (Reuters) - Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the U.S. company's plan to link it to neighbouring Egypt, two industry sources and a U.S. source said on Friday.

The Chevron-led (CVX.N) consortium proposed connecting the Aphrodite gas field via a subsea pipeline and existing infrastructure to Egypt, where the gas can be sold in the domestic market or liquefied and shipped to Europe, which has largely been cut off from Russian supplies.

Cypriot Energy Minister George Papanastasiou confirmed that the government had rejected the latest plan, which omitted a previous proposal to build a floating gas processing plant at the field which lies 160 kilometres (100 miles) southeast of Cyprus.

"The modification has been rejected. The expectation of the Republic of Cyprus is (that) the consortium honours what was mutually agreed by the parties in 2019," Papanastasiou told Reuters.

New drilling round in Aphrodite gas field set for early 2023 -Cypriot minister

December 7, 2022, 3:08 PM GMT+2

Nafisa Eltahir

CAIRO, Dec 7 (Reuters) - A new round of drilling will occur in the Aphodite gas field in the first few months of 2023, Cyprus' energy minister told a news conference in Cairo on Wednesday.

A draft development plan from the JV operating the field is expected by the end of the year, Natasa Pilides said. Cyprus is trying to expedite development so that the first shipment to Egypt could come by 2027, she added.

Can Egypt Become A Global LNG Power? - OILPRICE.COM

Dec 13, 2021, 2:00 PM CST
Cyril Widdershoven

• As demand for LNG around the world soars ahead of winter, Egypt is taking full advantage of high prices
• As well as the financial reward of increased exports, Egypt appears to be using its LNG supply to influence Turkey
• In Turkey, support for Erdogan is dwindling amidst high energy prices and rising inflation, forcing him to open up to both the UAE and Egypt

Egypt’s long-suffering LNG industry is finally experiencing some success as it takes advantage of European gas market constraints and exploits regional geopolitical developments. Cairo’s dream of becoming a global LNG player was derailed by a combination of the Arab Spring, conflict with Turkey, and then COVID demand destruction. Now, however, the country’s LNG industry is poised for major growth, with its largest producer, EGAS, having just offered a cargo on a free-on-board (FOB) basis for loading over December 28 and 29 from its Damietta LNG plant. The EGAS LNG tender will be closing on December 13, sources have stated. The last EGAS LNG tenders, which closed on November 29, were successful, as the company sold four out of five spot cargoes for loading between December and February.

Cyprus, Egypt sign deal to speed up electricity grid linkage - THE SEATTLE TIMES / THE ASSOCIATED PRESS

Oct. 16, 2021 at 5:04 pm
The Associated Press

NICOSIA, Cyprus (AP) — An undersea cable linking the electricity grids of Cyprus and Egypt could be key to helping both countries transition to a green economy and meet their commitments on battling climate change, the Cypriot energy minister said Saturday.

Minister Natasa Pilides said a memorandum of understanding she signed with Egypt’s Electricity Minister Mohamed Shaker El-Markabi sketches out the project’s planning, development and implementation.

“Fortifying our electricity grids and allowing the further integration of renewables in our respective energy mix, enhancing the security of our energy supply and enabling us to become exporters of energy, are but a few of the tangible benefits,” Pilides said.

Cyprus-Egypt technical committee on the joint gas pipeline project to meet 15/9 - IN-CYPRUS - PHILELEFTHEROS

05.SEPT.2021

The technical committee that is working on the preparations for a joint gas pipeline project between Cyprus and Egypt will convene on 15th September, according to a statement released on Sunday by the office of the Minister of Energy, Commerce and Industry, Natasa Pelides. The minister said she was very satisfied with her meetings in the Egyptian capital on Saturday.

The Energy Ministers of Cyprus and Egypt also decided on Saturday to sign a Memorandum of Understanding for the electricity interconnection between the two countries in the coming months. A business mission will also travel from Cyprus to Egypt to increase the trade of goods and services.

Discussions between Pelides and Egyptian Petroleum and Mineral Resources Minister Tariq Al-Mulla as well as Nevin Gamea, Minister of Industry and Trade of the Arab Republic of Egypt in the framework of the first Intergovernmental Meeting were “very constructive and totally productive”, the  press release said.

Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean - AL MONITOR

Sep 13, 2020
Mohamed Saied

At a time when the oil and gas industry is facing economic uncertainty as part of the consequences of the coronavirus pandemic and the decline in global prices as a result of an oversupply, the eastern Mediterranean region is marred by a frantic struggle over natural gas resources.

Eastern Mediterranean countries have rushed to demarcate their maritime borders and exclusive economic zones in a bid to facilitate the gas exploration process.

The United States Geological Survey estimated the natural gas reserve in the Mediterranean in 2017 at 340-360 trillion cubic feet with a financial value ranging between $700 billion and $3 trillion.

In January 2019, Egypt, Cyprus, Greece, Israel, Italy, Jordan and the Palestinian Authority established the Eastern Mediterranean Gas Forum in an attempt to create a regional gas market, reduce infrastructure costs and offer competitive prices.

While eastern Mediterranean countries have ambitious projects to gain a foothold in the European market with natural gas exports, the European Union (EU) is seeking alternatives to its dependency on Russian gas, as Russia is the third-largest oil producer in the world.

Nobel prize winner appointed chair of Egypt-Cyprus electricity project - CYPRUS MAIL

September 10, 2020

George Psyllides

Christopher Pissarides, Nobel prize laureate and professor of economics at the London School of Economics, has been appointed chairman of the economic council of EuroAfrica Interconnector, the Egypt-Cyprus electricity interconnector.

In February, Pissarides was also picked by Greek Prime Minister Kyriakos Mitsotakis to chair the committee tasked with the long-term growth strategy for Greece.

“It is a great honour for us that we welcome a distinguished economist and highly respected academic such as Dr Pissarides, contributing his knowledge and extensive wisdom,” EuroAfrica Interconnector strategy council chairman and former foreign minister Ioannis Kasoulides said.

“We are building bridges between continents, as Egypt’s electricity grid will be connected to Europe, through Cyprus, and Egypt becomes a major energy hub for the Arab World and Africa,” Kasoulides added.

Cyprus signs deal for offshore gas concession - REUTERS

NOVEMBER 7, 2019 / 4:41 PM

ATHENS (Reuters) - Cyprus signed a 25-year concession on Thursday with a three-member consortium for the exploitation of a gas reservoir south-east of the island first discovered in 2011.

The contract with Noble Energy (NBL.N), Shell (RDSa.L) and Delek (DEDRp.TA) is the first commercial exploitation license signed by the Mediterranean island. The Aphrodite field is thought to hold an estimated 4.1 trillion cubic feet (tcf) of gas.

Cypriot authorities have said natural gas will start being extracted in 2025, with estimated earnings of 9.3 billion euros ($10.29 billion) over an 18-year period.

“The plan includes the implementation of what we consider the best possible option, transferring gas through an subsea pipeline to Idku in Egypt from where LNG will be exported to Europe and international markets,” Cypriot energy minister Yiorgos Lakkotrypis said in a statement.

In September last year Egypt and Cyprus signed an agreement to build an undersea natural gas pipeline from the Aphrodite field to a liquefaction plant in Egypt.

Energy Security Key in Bolstered Cyprus-Egypt Ties - THE NEW YORK TIMES / ASSOCIATED PRESS

Sept. 11, 2019

NICOSIA, Cyprus — Cyprus' defense minister says the east Mediterranean island nation and neighbor Egypt are exchanging information to bolster security around an offshore search for natural gas as part of enhanced defense ties.

Savvas Angelides says the two neighbors' information-sharing extends to countering any extremist threats.

The Cypriot minister says defense ties are also being upgraded between Cyprus, Egypt and Greece as through joint military exercises and personnel exchanges.

Angelides was speaking Wednesday after escorting his counterpart, Lt. Gen. Mohamed Ahmed Zaki, to a meeting with Cypriot President Nicos Anastasiades.

Cyprus and Egypt share a sea border delineating their respective exclusive economic zones where each country is carrying out exploratory gas drilling.

Officials said a recent discovery of Egypt's Zohr gas field bodes well for more discoveries in Cypriot waters.

Egypt Says Offshore Gas Discoveries Bolster Ties with Cyprus - THE NATIONAL HERALD / ASSOCIATED PRESS

Sameh Shoukry (L) and Nikos Christodoulides meet in Nicosia on July 31

August 1, 2019

NICOSIA (AP) — Egypt’s foreign minister says hydrocarbon finds in the eastern Mediterranean have bolstered an already “strong partnership” with neighboring Cyprus.

Minister Sameh Shoukry said after talks Wednesday with Cypriot counterpart Nikos Christodoulides that Egypt looks forward to working with Cyprus in fully utilizing energy reserves.

Egypt’s top diplomat said he’s hopeful the establishment of the Eastern Mediterranean Gas Forum will help open new avenues of cooperation and policy coordination between the two countries.

Shoukry said a trilateral partnership between Egypt, Cyprus and Greece serves as an “important catalyst” for regional prosperity and stability. He said Egypt will host the seventh summit of the three nations’ leaders later this year.

Christodoulides said European Union member Cyprus would continue to advocate for stronger EU-Egypt ties in order to more effectively address regional challenges.

ENERGY: Cyprus strikes $9 bln gas production deal - FINANCIAL MIRROR

05 June, 2019

Cyprus will earn $9.3 bln over 18 years from exploiting its Aphrodite gas field after Nicosia renegotiated a contract with industry giant Shell, US-based Noble and Israel’s Delek, the energy minister said Wednesday.

Energy Minister George Lakkotrypis told reporters that a re-working of the production contract ensures the Cyprus government receives an average yearly income of 520 million dollars over the lifespan of the gas field.

“We believe that it is a good deal under the circumstances, it will allow the Republic of Cyprus to earn significant commercial revenues estimated at over $9 billion during 18 years of the well’s lifespan,” Lakkotrypis told reporters.

He said the figures were based on the average price of oil being around $70 a barrel.

Lakkotrypis said under the new deal, the consortium was obliged to keep to a tight deadline to tap the gas reserves.

“Based on the development and production plan that we discussed, we expect the first gas to be extracted by 2024-25."

Previously the consortium had no obligation to stick to a timeline, no natural gas is expected to flow from Aphrodite and be pumped to Egypt via a pipeline.

President Sisi thanks Cyprus for its contribution in the establishment of EU-Egypt relations - CYPRUS NEWS AGENCY

CYPRUS/Nicosia 24/02/2019 13:43 

President of Egypt Abdel Fattah al-Sisi has expressed his gratitude to President Nicos Anastasiades for his contribution in establishing relations between his country and the EU.

Anastasiades who arrived Sunday at the Egyptian resort of Sharm el Sheikh for the first EU-Arab league Summit, was received by President Sisi in the morning. 

President Anastasiades told the press that the Egyptian President expressed absolute support to his initiative on climate change.