Cyprus, Egypt sign export pipeline accord

Cyprus has agreed to export its produced offshore gas to Egypt via a new long-distance subsea pipeline, according to a Reuters report.

Offshore staff

NICOSIA, Cyprus – Cyprus has agreed to export its produced offshore gas to Egypt via a new long-distance subsea pipeline, according to a Reuters report.

Currently the sole discovery remains the Noble-operated, 4.5-tcfAphrodite in block 12 offshore southern Cyprus.

However,Eni and KoGas have rights to explore three more of the island’s southern offshore blocks, while Total has rights over one block. Other companies applied for blocks under the recent Cypriot licensing round.

Reuters reported a joint statement from Egyptian petroleum minister Tarek El Molla and Cypriot energy minister Yiorgios Lakkotrypis, declaring that the deal would allow a direct subsea pipeline from Cyprus’ maritime exclusive economic zone (EEZ) to either Egypt’s EEZ or onshore Egypt, for domestic consumption or re-export.

An EEZ is a maritime area over which states have commercial rights.

09/02/2016

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