Egypt, Cyprus ink deal for natural gas cooperation
Petroleum Minister Sherif Ismail
Cairo - MENA
Egypt and Cyprus agreed on Monday to set up a maritime line from Aphrodite gas field in Cyprus till Egypt.
The six-month memo of understanding, signed by Petroleum Minister Sherif Ismail and Cypriot Energy and Tourism Minister Giorgos Lakkotrypis, will allow Egypt to import natural gas from the Cypriot field.
Ismail said no agreement on the price of gas imports has been reached yet with the Cypriot side but added that negotiations over this issue will start following the end of the six months.
As per the deal, the state-run Egyptian Natural Gas Holding Company (EGAS) and Cyprus' CH company will hold necessary studies over the maritime line.
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