NICOSIA, Jan. 24 (Xinhua) -- Cyprus and Egypt have reached an agreement to export natural gas from Cypriot fields in the eastern Mediterranean for liquefaction at Egyptian plants, President Nikos Christodoulides announced on Friday.
In a statement on X, Christodoulides confirmed plans to sign the agreement with Egyptian President Abdel Fattah Al-Sisi in Cairo on Feb. 17.
The agreement covers the exploitation of two key Cypriot gas fields: Saturn, off Cyprus's southwest coast, and Aphrodite, located to the southeast.
Natural gas from these fields will be transported to Egyptian liquefaction facilities at Idku and Damietta, near Alexandria, before being exported as liquefied natural gas (LNG) to third countries, according to Papanastasiou.
Egyptian Petroleum Minister Karim Badawi emphasized the strategic significance of the agreement, which he said bolsters Egypt-Cyprus cooperation. "This deal unlocks the potential of Cypriot natural gas and maximizes Egypt's infrastructure through a clear, fast-tracked action plan," Badawi noted.
The two fields are estimated to contain about four trillion cubic feet of natural gas each. This development reinforces the eastern Mediterranean's role as a burgeoning natural gas hub, with Cyprus's Aphrodite field among the region's most prominent reserves.
