Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held a video conference meeting with Basil Allam, Country Manager of Chevron Cyprus, to coordinate on finalizing agreements on linking the Cypriot Aphrodite natural gas field to Egyptian infrastructure, as per a statement.
This comes in preparation to re-export the field’s output to international markets through Egypt.
The project is expected to reinforce Egypt's role as a regional hub for gas trading and distribution, maximizing the utilization of its existing infrastructure. This is in addition to supporting the exploitation of gas resources to contribute to enhancing energy security.
Badawi highlighted joint efforts to accelerate the project’s executive procedures and steps to achieve mutual benefit and serve the partners' interests.
In February, the minister discussed progress on the project with Chevron executives during meetings in Washington, D.C.
Last year, during his participation in the ADIPEC Exhibition and Conference in Abu Dhabi, Badawi noted that the linkage would provide a fast and reliable route for delivering East Mediterranean gas resources to global markets at a competitive cost.