Egypt’s Petroleum Minister Karim Badawi has held talks with senior officials from Italy’s Eni to accelerate natural gas production from the company’s concession areas in the Mediterranean Sea and the Nile Delta, while also reviewing the status of the landmark project to pipe Cypriot gas to Egypt via existing infrastructure.
The meetings addressed progress on the Cronos field development project, which would see natural gas extracted from Cyprus’s offshore Cronos field transported to Egypt through an undersea pipeline connected to the country’s established processing and export infrastructure. Both sides reviewed the remaining technical and contractual procedures required to advance the project toward implementation.
Badawi highlighted Egypt’s deepening cooperation with Cyprus and expressed confidence that the two countries would secure the final investment decision (FID) from the partner consortium in due course. Egypt’s role as a regional gas processing and export hub gives the Cronos project particular strategic significance, as it could open a new corridor linking eastern Mediterranean gas resources to European markets.
Source: en.amwalalghad.com