Cyprus and Egypt sign agreement for first Mediterranean subsea natural gas pipeline

Cyprus and Egypt on Wednesday signed an agreement paving the way for the Mediterranean’s first subsea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe.

“Today’s signing is an important milestone, not only for Cyprus but also the entire eastern Mediterranean region,” said Energy Minister George Lakkotrypis after he signed alongside visiting Egyptian Oil Minister Tarek el-Molla.

He said the agreement, “the first of its kind in our shared region”, was crucial for channelling gas from the island?s “Aphrodite” offshore field to Egypt and to attract multi-billion-dollar infrastructure investments.

France24

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