Egypt and Cyprus have signed two commercial agreements for transporting natural gas from the Cypriot Cronos field to Egypt, further solidifying their energy partnership. The agreements were formalized during the Eastern Mediterranean Energy Conference and Exhibition (EMC 2025) held in Limassol on October 20 and 21.
The first agreement is a tariff arrangement between Egypt’s Ministry of Petroleum and Mineral Resources and Italian energy giant Eni and French major TotalEnergies. The second is a handling, processing, and transportation agreement between the Egyptian Natural Gas Holding Company (EGAS) and IEOC, a subsidiary of Eni in Egypt, along with Eni in Cyprus and TotalEnergies.
These deals establish the operational and commercial frameworks governing the transportation, supply, processing, and liquefaction of gas for export, as well as the utilization of Egypt’s natural gas infrastructure for the project. According to the Ministry’s statement, the agreements build upon a previous arrangement and memorandum of understanding that Egypt and Cyprus signed in February to begin developing Cypriot natural gas discoveries using Egyptian infrastructure.
Under the framework established in February, gas from the Cronos field will be transported and processed at Egypt’s Zohr field facilities, then liquefied at the Damietta LNG plant for export to European markets. The memorandum of understanding also involved the Aphrodite gas field, another significant gas discovery in Cyprus operated by Chevron, which is also planned to send its gas to Egypt for processing and export.
Egypt’s Minister of Petroleum and Mineral Resources stated in his opening remarks at EMC 2025 that joint efforts between Egypt and Cyprus over the past few months have yielded significant progress across commercial, technical, and investment tracks. He highlighted that their partnership in natural gas stands as a model for successful regional cooperation that evolved from shared visions into practical implementation, advancing both countries’ goals for energy security and mutual economic benefit.
The Minister held a series of bilateral meetings during the event to discuss enhanc’ng regional cooperation in natural gas. His initial meeting was with George Papanastasiou, the Cypriot Minister of Energy, Commerce, and Industry, where both Ministers asserted the significance of Egyptian-Cypriot collaboration in bolstering regional energy security and reviewed progress in their joint project. The Minister also met with executives from Eni, TotalEnergies, and Chevron to discuss strengthening existing partnerships and reviewing their operations in Egypt as well as future exploration and production plans.
Source: egyptoil-gas.com