Joint Written Statement of the Ministry of Energy of Cyprus and the Ministry of Petroleum of Egypt
Wednesday, 31 August 2016
The Minister of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, Mr. Georgios Lakkotrypis, and the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Mr. Tarek El Molla, met in Nicosia on the 31st of August of 2016 and signed an Agreement concerning the transport of natural gas via a direct subsea pipeline from the Exclusive Economic Zone of the Republic of Cyprus to a landing point in the Exclusive Economic Zone or onshore the Arab Republic of Egypt, either for domestic consumption or re-export (the Agreement).
It is one of a series of legal arrangements which will further support the sale of Cypriot Natural Gas to buyers in Egypt, provide certainty to investors and complement the relevant commercial discussions which are underway.
Against this backdrop, the Governments of Cyprus and Egypt decided to speedily proceed with discussions on an Intergovernmental Agreement for the pipeline from Cyprus to Egypt, which will be intended to facilitate the realization of the project within the maritime areas of jurisdiction of the two countries.
Cooperation in the oil and gas sector between the two countries will further deepen the excellent relations between Cyprus and Egypt to the mutual benefit of the peoples of Cyprus and Egypt, and will also further unlock and promote the potential of the Eastern Mediterranean as a whole.