New Europe: Egypt wants to buy gas from Cyprus

Egypt’s Petroleum and Mineral Resources Minister Sherif Ismail said on November 25 that his country can buy as much natural gas as Cyprus can export.

Ismail said he discussed with his Cypriot counterpart details of a framework agreement for the export of natural gas from the Aphrodite gas field off the southern coast of Cyprus to Egypt.

The possibility of re-exporting liquefied Cypriot natural gas from Egypt is an option under consideration between the two countries, he said. “Egypt has a very huge natural gas infrastructure and can accommodate the production coming from Cyprus’ economic waters,” Ismail said.

US-based Texas Energy has discovered a gas deposit estimated to contain 4.54 trillion cubic feet of natural gas and Italian-South Korean ENI-KOGAS consortium is about to announce results of an exploratory drill in an adjacent gas field.
MORE