Chevron has announced plans to conduct a seabed survey in the eastern Mediterranean as part of developing a pipeline to transport natural gas from Cyprus’s Aphrodite field to processing facilities in Egypt. The decision was made during a meeting between Cyprus President Nikos Christodoulides and Chevron CEO Mike Wirth.
The Aphrodite field, located approximately 160 km off Cyprus’s southern coast within its exclusive economic zone, contains an estimated 4.5 trillion cubic feet of natural gas. Chevron, in partnership with Shell and Israeli company NewMed Energy, is developing this resource.
In February 2025, Chevron and its partners signed an agreement with Egypt outlining the framework for Aphrodite’s development. The revised production plan includes a floating platform to process the extracted gas and a subsea pipeline for transport to Egypt. President Christodoulides emphasized the project’s importance for Cyprus as a new supply source for neighboring countries and the European Union.
Source: energycapitalpower.com
