Nicosia: Petroleum and Mineral Resources Minister Karim Badawi discussed on Friday 24/1/2025 with Cypriot Energy Minister George Papanastasiou means of boosting bilateral cooperation in the development of natural gas fields.
According to State Information Service Egypt, the meeting took place in the Cypriot capital, Nicosia, to complete discussions that were held between the two sides during the 10th summit of the Trilateral Cooperation Mechanism among Egypt, Cyprus, and Greece. The two ministers focused on advancing projects to develop natural gas fields and utilizing gas reserves discovered in Cyprus’s Exclusive Economic Zone, particularly in the “Kronos” and “Aphrodite” fields, by linking them to Egyptian facilities. This initiative aims to expedite the production of these fields at minimal cost.
The discussions emphasized finalizing the legal, commercial, and technical frameworks necessary to commence executive steps in developing the “Kronos” field this year. The ultimate goal is to establish an energy
corridor linking the Eastern Mediterranean and Europe through Egypt, enhancing the energy security of both nations and supporting regional efforts to exploit natural gas resources efficiently.
Both ministers underscored the urgency of implementing these strategic projects to facilitate the transfer of gas from an undersea deposit within Cypriot waters to Egypt, where it will be liquefied and processed for export. Cyprus’s resources will be utilized either in the local market or transferred for liquefaction in Egypt’s natural gas facilities, boosting Egypt’s position as a regional energy hub.
Badawi regards the cooperation between Egypt and Cyprus as a successful model of regional partnership in the natural gas sector. He highlighted Egypt’s robust infrastructure, including LNG plants and transportation networks, as key to achieving economic integration and maximizing the benefits of discovered gas resources.
The meeting concluded with an agreement to continue coordination and cooperation to enhance the exi
sting partnership, serving the interests of both countries. Additionally, Badawi invited his Cypriot counterpart to attend the Egypt Energy Show (EGYPES 2025), scheduled for February.
Source: State Information Service Egypt