Media reports in Cyprus suggest that an agreement is on the agenda between Egypt and Cyprus for the utilization of natural gas within the Exclusive Economic Zone (EEZ) of Cyprus.
Several outlets report that Egypt is currently following developments in the EEZ of Cyprus and has tapped Nicosia to pipe natural gas to meet Egypt’s domestic market needs or to liquefy it in facilities in Egypt and export it to international markets such as Europe.
The issue id reportedly the focus of consultations between Nicosia and Cairo, with the “Kronos” and “Aphrodite” deposits being discussed. The “Kronos” deposit was given priority due to its more advanced infrastructure.
Cyprus and Egypt are also reportedly consulting on a commercial agreement regarding the “Aphrodite” bed, and that Egypt had shown flexibility and intent to facilitate the procedure.
Egypt is currently importing natural gas from Israel without any problems and that ensuring electricity and natural gas sufficiency in the domestic market is among its priorities.
Meanwhile, the Fileleftheros notes that ExxonMobil is planning to conduct drilling operations at the “Ilektra” target in the 5th parcel this year.