Egypt and Cyprus on 19 September signed an inter-governmental agreement enabling a gas pipeline to tie-back gas fields discovered offshore Cyprus to one of the two LNG plants on Egypt’s Mediterranean coast. A commercial agreement would first need to be agreed though before any gas could make its way from Cyprus to Egypt.
The 4.2tcf 2011 Aphrodite discovery, and estimated 6-8tcf Calypso field discovered in January this year, are to-date the only discoveries made offshore the small Mediterranean island; neither has reached FID. (CONTINUED - 147 WORDS)