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.
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.
Minister of Petroleum Sherif Ismail signed the Memorandum of Understanding (MoU) on Egypt’s behalf, whilst Cypriot Minister of Energy, Commerce, Industry, and Tourism Yiorgos Lakkotrypis signed on behalf of Cyprus..
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 provides the country’s needs of gas. It is anticipated that the Cypriot gas will reach Egypt by 2017.
Ismail revealed that the cost of constructing the pipeline will be distributed on the supplier, represented in the state of Cyprus and Noble Energy, and the importer, represented in Egypt, BG, and Unión Fenosa.
Source: Daily News Egypt