Athens:Egypt and Chevron have reviewed the final steps necessary to connect the Aphrodite natural gas field in Cyprus to Egypt's infrastructure. This development is crucial for making a final investment decision and implementing the project.

According to State Information Service Egypt, the discussions took place during a meeting between Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, and senior executives from Chevron. The meeting concluded Badawi's visit to Athens and focused on completing procedures, agreements, and arrangements necessary for the procurement of Long-Lead Items and making a final investment decision.

Chevron, holding a 35% working interest in the Aphrodite field, is leading the project's technical development and front-end engineering. Collaborating with partners Shell and NewMed Energy, Chevron is working on the commercial and infrastructure alignment required to execute the $4 billion project. The project includes constructing a 280-kilometer subsea pipeline to link Cypriot gas to Egypt.

The meeting also addressed the progress of joint working teams and the status of technical, commercial, and legal procedures. Minister Badawi emphasized the need to accelerate the remaining steps and directed the provision of support and coordination to advance the project to implementation.

Badawi highlighted that the Aphrodite project would enhance the utilization of Egypt's infrastructure for natural gas processing and bolster regional energy integration. Additionally, it would solidify Egypt’s role as a regional hub for gas trading.

The plan to connect Aphrodite to Egypt involves transporting gas via the subsea pipeline to Egypt's infrastructure, processing it, and re-exporting through Egypt’s LNG facilities to international markets. This initiative aims to maximize the use of Egypt’s existing infrastructure and generate economic benefits, promoting further cooperation and investment in the energy sector.