Cyprus and Egypt discuss energy cooperation

Cypriot Minister of Energy, Commerce, and Industry George Papanastasiou this week met with his Egyptian counterpart Tarek El Molla, engaging in discussions on bolstering energy collaboration between Cyprus and Egypt.

According to an announcement by the ministry, the talks aimed to expedite the development of the natural gas reservoirs southwest of Cyprus, considering the option of transporting gas from the Cypriot Exclusive Economic Zone (EEZ) to Egypt.

Returning from Cairo, where he participated in the EGYPES 2024 energy exhibition and conference, Papanastasiou highlighted the productive private meeting with the Egyptian Minister.

The two ministers reviewed recent developments in the hydrocarbon sector in the Eastern Mediterranean, with particular focus being placed on the promising results of the Cronos natural gas discovery within Block 6 of the Cypriot EEZ.

Parallel to these discussions, both ministers “explored avenues to strengthen energy cooperation between Cyprus and Egypt, particularly focusing on fast-tracking the development of the gas reservoir complex southwest of Cyprus”.

“The transfer of gas from the Cypriot EEZ to Egypt emerged as one of the primary options for utilisation,” the announcement added.

Preceding the meeting with the Egyptian Minister of Petroleum, separate discussions were held with Osama Mobarez, the Secretary-General of the East Mediterranean Gas Forum, and senior executives from Eni, TotalEnergies, Chevron, and ExxonMobil.

These meetings delved into their research programmes and the rapid development of their discoveries within the Cypriot EEZ.

Finally, during his time at the EGYPES 2024 exhibition, Minister Papanastasiou also visited the Cyprus pavilion, further strengthening ties and collaboration within the energy sector.