Cyprus and Egypt forge energy partnership amidst gas discoveries

Minister of Energy, Trade, and Industry, George Papanastasiou, recently engaged in crucial talks with Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, exploring avenues to strengthen energy cooperation between the two nations. The discussions, held during the EGYPES 2024 energy exhibition and conference in Cairo, delved into key developments in the Eastern Mediterranean hydrocarbon sector.

The focal point of the meeting was the optimistic evaluation of the "Cronos" natural gas discovery within Block 6 of Cyprus' Exclusive Economic Zone (EEZ). The ministers reviewed the encouraging results of recent drilling activities, emphasizing the potential for significant contributions to the regional energy landscape.

A significant aspect of the conversation revolved around strategies to expedite the development of natural gas reservoirs situated southwest of Cyprus. Among the primary considerations was the exploration of options for transporting gas from Cyprus' EEZ to Egypt.

Minister Papanastasiou shared insights from his visit, highlighting the constructive nature of the discussions. The bilateral meeting aimed to pave the way for increased collaboration in the energy sector, emphasizing the importance of regional partnerships and the mutual benefits derived from shared resources.

Prior to the meeting with Minister El Molla, Minister Papanastasiou held separate discussions with key stakeholders, including Secretary General Osama Mobarez of the East Mediterranean Gas Forum. Additionally, meetings with top executives from Eni, TotalEnergies, Chevron, and ExxonMobil focused on research programs and the swift development of discoveries within Cyprus' EEZ.

The deliberations underscore the evolving landscape of energy dynamics in the Eastern Mediterranean, with Cyprus and Egypt positioning themselves for enhanced collaboration and shared advancements in the sector.