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Egypt to sign gas supply deal with Cyprus

Egypt’s minister of petroleum will sign a gas supply agreement in Cyprus next week. However, the arrangement may be more of a bargaining chip than an actual plan for gas supplies Egypt’s minister of petroleum will sign a gas supply agreement in Cyprus next week. However, the arrangement may be more of a bargaining chip than an actual plan for gas supplies.
By Verity Ratcliffe 25 August 2016 Middle East & Africa / Pipelines, Storage & Power 0 21667
An Eni rig. The company is accelerating the development of the huge Zohr field off Egypt’s coast. (Eni)

Egypt’s minister of petroleum, Tarek el-Molla, will sign a bilateral agreement for the sale of Cypriot gas to Egypt early next week.

Cyprus may supply Egypt’s domestic market as well as its LNG export facilities at Idku and Damietta. The plan to provide gas to Egypt via a proposed pipeline is good news for the partners behind Cyprus’s deepwater Aphrodite field, which have struggled to find a market.

This is particularly true for BG Group, which bought into the field in January after a deal made in...