Egypt, Cyprus to build natural gas pipeline

Egypt and Cyprus have signed an agreement to build an underwater pipeline to transfer natural gas from Cyprus to Egypt.

The pipeline will carry gas from the Aphrodite field in Cyprus  — estimated to contain around 4.5 trillion cubic feet (130 billion cubic meters) of gas — to processing plants in Egypt. The gas will then be liquefied in Egypt for re-export.

The new pipeline will contribute to securing gas supplies to the European Union Countries, Egyptian petroleum minister Tarek Al Mulla said.

The agreement signed on Wednesday could apply to other gas fields that may be discovered off Cyprus in the future.