Nicosia has reached an agreement with Cairo on a pipeline to connect the Aphrodite gas field in block 12 to Egypt, it was reported on Monday.
According to state broadcaster CyBC, the inter-state agreement is expected to be signed in the autumn.
The two countries had signed in 2017 a preliminary agreement to transport natural gas from Cyprus to Egypt to be liquefied at Egypt’s LNG facilities and re-exported to Europe and other markets.
CyBC, citing diplomatic sources, said that the agreement has already been given the green light by the EU and it is being scrutinised for the final touches.
Cyprus demarcated its maritime border with Egypt in 2003. The Aphrodite gas field, discovered in December 2011 by Houston-based Noble Energy, is estimated to hold some 4.5 trillion cubic feet of gas.