Egypt: Gas pipeline deal signed with Cyprus

Issue 330 - 16 Sep 2016
Cyprus and Egypt signed an agreement on 31 August for the transport of natural gas between the two countries via a subsea pipeline. The agreement was signed in Nicosia by Cypriot energy, commerce, industry and tourism minister Georgios Lakkotrypis, and Egyptian petroleum and mineral resources minister Tarek El Molla. It covers the transport of natural gas via a direct subsea pipeline from the Cyprus exclusive economic zone to a landing point in Egypt, either for domestic consumption or re-export. The Cyprus energy ministry said it was one of a series of legal arrangements to support the sale of Cypriot gas to buyers in Egypt, provide certainty to investors and complement commercial discussions currently under way.

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