Arab Finance: Egypt and Cyprus have signed a set of commercial and operational agreements for the transmission of natural gas from Cyprus’ Cronos field to Egyptian infrastructure, as per a statement.

The agreements were concluded during the Eastern Mediterranean Energy Conference and Exhibition (EMC) in Limassol, Cyprus, in the presence of Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and his Cypriot counterpart Giorgos Papanastasiou.

They define the operational and commercial frameworks for the transport, supply, processing, and liquefaction of natural gas for export, as well as the use of Egypt’s gas infrastructure.

Badawi said the signing follows the understandings reached between Egyptian President Abdel Fattah El-Sisi and Cypriot President Nikos Christodoulides to develop cooperation between the two countries and advance the connection of Cypriot gas fields to Egypt’s infrastructure.

He noted that the agreements support Egypt’s role as a regional center for natural gas trade in Eastern Mediterranean and contribute to Cyprus’ plans to utilize its gas resources and export them through Egyptian facilities.

On the sidelines of the conference, the Ministry of Petroleum signed the initials of the Cronos Tariff Agreement with energy companies Eni and TotalEnergies.

Another agreement covering offshore handling, processing, and transportation for the Cronos field project was signed between the Egyptian Natural Gas Holding Company (EGAS) and the investment partners.

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