Egypt deal for 20 years | IN CYPRUS / CYPRUS WEEKLY

22/03/2015

The gas supply deal from Cyprus to Egypt from the offshore Aphrodite field could be as long as 20 years, according to BG speaking at the Third Annual Eastern Mediterranean Gas Conference in Nicosia this week.

Plans are currently under way to export gas from the Aphrodite field to Egypt via subsea pipeline to supply the underutilised Idku and Union Fenosa liquefied natural gas (LNG) plants in Egypt.

BG would be a partner in the process together with the Cyprus Hydrocarbons Company (CHC) and its Egyptian counterpart, Egas.

Noble Energy, the main partner in the Aphrodite field, met Cyprus President Nicos Anastasiades on Tuesday to discuss a development plan for the Aphrodite field, which contains a gross mean of 4.5 trillion cubic feet (tcf).

EMGC 2015: Gas leaders examine roles of Egypt, Cyprus in future trade | World Oil

By ADRIENNE BLUME, MANAGING EDITOR on 3/18/2015

NICOSIA, Cyprus -- Gulf Publishing Company opened its third annual Eastern Mediterranean Gas Conference (EMGC) with a welcome from John Royall, President of Gulf Publishing Company. Royall thanked attendees for coming to the event and said that he believes the Eastern Mediterranean region will continue to grow over the long term with respect to exploration efforts and reserves. He also believes the downturn in the oil and gas market and pricing will be short lived, which he later addressed in a forecast presentation based on Gulf Publishing Company's World Oil data.

Cyprus embraces collective approach. Kicking off Session 1, Harris Georgiades, Minister of Finance for Cyprus, spoke about the energy prospects and potential revenue stream for Cyprus. The development of these country's gas resources must be actively promoted, Georgiades said.