April 07, 2015
Egypt and Cyprus have activated the exchange of information between the two sides to start the technical and economic studies for the marine pipeline importing gas from Cyprus’ Aphrodite gas field.
According to Daily News Egypt, EGAS Chairman Khaled Abdel Badie visited Cyprus yesterday to start the information exchange on the 400km long pipeline, and continue negotiations with the Cypriot Hydrocarbon Public Company.
Egyptian Minister of Petroleum Sherif Ismail signed the relevant Memorandum of Understanding (MoU) with Cypriot Minister of Energy, Commerce, Industry, and Tourism Yiorgos Lakkotrypis.
The MoU allows the parties to study technical solutions to transport gas through a direct marine pipeline from the Aphrodite field to Egypt. This facilitates the operation of the Idku and Damietta factories, and satisfies Egypt’s needs for gas. It is anticipated that natural gas from Cyprus will start being delivered to Egypt by 2017.
The cost of constructing the pipeline will be distributed between the supplier – namely the Cyprus Republic and Noble Energy – and the importer – the Egyptian state, BG, and Unión Fenosa.
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