Cyprus to pipe gas to Egypt

Cyprus

NICOSIA, August 31, 2016 – Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla and his Cypriot counterpart, Yiorgios Lakkotrypis, inked an agreement on Wednesday for future gas transfers from Cyprus to Egypt via pipeline.

The deal would open the way for the marketing of the gas resources discovered offshore the Mediterranean island, including Tullow Oil’s find in late 2011. Declared commercial in late 2015, the 127-bcm (4.5-tcf) find has in recent years sparked interest in the Cyprus Exclusive Economic Zone, where Eni, Korea Gas Corporation and Total are conducting exploration work.

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