A government source revealed on Monday that, Egyptian and Cypriot officials have intensified discussions over preparations for a joint gas pipeline project aimed at transforming Egypt into a regional energy trade hub,
According to the official, the joint scheme would see natural gas from the offshore Aphrodite gas field in Cyprus piped to liquefaction plants (which convert gas into a liquid state) in Egypt for re-export to European countries and for use in local markets.
Despite major disruptions to many global development projects due to the coronavirus disease (COVID-19) pandemic, the Egyptians and Cypriots have remained confident in implementing the initiative to schedule.
The negative impact of the COVID-19 outbreak on national economies around the world will force many countries to act quickly to compensate for losses, leading to an upswing in demand for energy to drive industrial growth, the source said.
Egypt and Cyprus signed an agreement on Sept. 19, 2018, to establish a direct marine pipeline.
During a virtual meeting, Egyptian Petroleum and Mineral Resources Minister Tariq Al-Mulla and Cypriot Minister of Energy Natasa Pilides discussed cooperation between the two countries in the field of oil and natural gas and ongoing collaboration under the regional EastMed Gas Forum platform.