News Local Cyprus and Egypt sign agreement for Aphrodite pipeline

Cyprus and Egypt sign agreement for Aphrodite pipeline

Cyprus and Egypt will sign today an inter-state agreement concerning a subsea pipeline to carry Cypriot natural gas to Egypt.

Cyprus’ Energy Minister Yiorgos Lakkotrypis said the agreement was crucial for the efforts of both countries to channel natural gas from the “Aphrodite” reservoir, off Cyprus’ coast, towards Egypt.

The agreement sets the framework for cooperation between the two countries, the Minister went on, while highlighting that it is the first if its kind in the region, and is in line with EU standards.

The Minister also said that a representative of the European Commission will attend Wednesday’s signing ceremony, adding that this shows the importance the EU attaches to the project.

“This pipeline is a European pipeline,” the Minister said. He added that gas will be carried to Egypt once commercial agreements advance and then it will reach European markets in LNG form.

The Cypriot Minister of Energy also noted that this will help Europe strengthen its energy security.

Lakkotrypis said the agreement concerns at this stage Cyprus and Egypt but hailed it as a model for regional cooperation.

This agreement is the first of its kind and it paves the way for the conclusion of the project, allowing private investors to negotiate a commercial agreement, Egypt’s Minister of Petroleum Tarek El Molla added.

The construction of the pipeline depends on how fast commercial agreements advance with the investors, the Egyptian Minister concluded.

Read more:

https://in-cyprus.com/news/local/egyptian-petroleum-minister-arrives-in-cyprus-to-sign-aphrodite-agreement/

Top Stories

Russian scientist behind COVID-19 vaccine defends ‘wartime’ roll-out

Russia plans to share preliminary results of its COVID-19 vaccine trial based on the first six weeks of monitoring participants, raising the tempo in...

Greece-US relations have never been so close and productive, Greek PM says

"I corroborate the statement made by Pompeo that relations between our two countries have never been as close and productive as they are...

EAC warns customers of fraudulent visits by strangers posing as their staff

Recently, EAC customers have informed the Organisation that they have been receiving visits from persons posing as EAC employees to check their electricity meters. These...

UPDATED – Drunk man entered café in Larnaca and pulled out knife

A drunk man entered a well-known café-restaurant in the centre of Larnaca and pulled out a knife. According to initial information, the man asked for...

European bee-eaters, other protected species illegally killed in Meneou

Images of dead protected species in Meneou area, Larnaca, were published on Facebook by BirdLife Cyprus and have caused anger and disgust, Philenews reported...

Taste

Sheftalies

Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). Panna is a...

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...