Financial Institutions to Fund Egypt-Cyprus Gas Pipeline

Financial Institutions to Fund Egypt-Cyprus Gas Pipeline

Four investment banks have shown interest in funding the natural gas pipeline linking Cyprus’s Aphrodite field to Egyptian liquefaction facilities, a Cypriot official involved in the country’s energy sector stated, according to Bloomberg.

The banks requested information regarding the progress of the Aphrodite gas field, Sofronis Papageorgiou, head of commercial affairs at the Cypriot embassy in Israel.

The construction of the subsea pipeline will start in Q1 2019, an official source at the Ministry of Petroleum previously told Al Mal.

The source said that the 700 million standard cubic feet per year (mmscf/y) capacity pipeline is expected to start transporting Cypriot gas in 2022.

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Sarah Samir 3673 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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