Cyprus Natural Gas to be Sold to Egypt

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The negotiations between Cyprus and Egypt over a possible natural gas sale to Egypt will be held after the first results of the exploration activity in Cypriot offshore blocks 2, 3 and 9, Cyprus Energy Minister Giorgos Lakkotrypis said.

Following a meeting of the Council of Ministers, Mr Lakkotrypis announced that the construction of a natural gas liquefaction terminal remained a priority for Cyprus, however, in the long-term Cyprus should diversify its export options.

Recently the Minister has visited Cairo for the meeting of the Joint Technical Committee, which “explored technical options with regard to a possible future transport of Cypriot natural gas to Egypt.”

Mr Lakkotrypis said Egypt was currently suffering from a severe energy crisis and is “desperately seeking natural gas imports.”

“The first results at least from the first drilling are expected before the end of the year and we agreed that at that point we will be ready to engage in more concrete talks over the sale of natural gas at least,” Lakkotrypis said.