Energy Minister George Papanastasiou met with Egyptian Minister of Petroleum and Mineral Resources Karim Badawi on Friday to discuss bilateral cooperation on gas transmission projects. The primary focus of the meeting was the commercialisation of natural gas deposits within Cyprus’ Exclusive Economic Zone (EEZ).

Discussions centered on enhancing the energy security of both countries through joint infrastructure projects. According to a joint statement, these initiatives could form part of a “new energy corridor from the Eastern Mediterranean to Europe” and expedite the commercialisation of Cyprus’ natural gas fields.

The ministers outlined plans to transport gas from Cyprus’ EEZ to Egypt for liquefaction and subsequent export to international markets. Badawi’s visit followed an invitation from Papanastasiou, building on talks held earlier this month at the trilateral Cyprus-Egypt-Greece summit.

Bilateral negotiations on gas infrastructure have gained prominence in recent years, particularly after Italian energy company Eni confirmed the discovery of a significant gas reservoir during its “Cronos-2” drill in early 2024.

Cyprus’ EEZ, established in 2004 as part of a regional framework for the Eastern Mediterranean, borders the economic zones of Greece, Turkey, Syria, Israel and Egypt. The first offshore gas discoveries in the area were reported in 2011, with five wells across three blocks containing reserves exceeding Europe’s annual gas consumption.