Pipelines, Storage & Power

Cyprus-Egypt pipeline could cost $1 bln

A planned gas pipeline between Cyprus’s Aphrodite gas field and LNG facilities in Egypt will cost between $800 million and $1 billion.
By Staff reporter 8 May 2018 0 30768

A planned gas pipeline between Cyprus’s Aphrodite gas field and LNG facilities in Egypt will cost between $800 million and $1 billion, Egypt’s petroleum minister, Tarek el-Molla, said during a joint news conference with Cypriot Energy Minister Yiorgos Lakkotrypis.

Molla said Cypriot gas could be used for domestic consumption as well as for export.

The two countries have been working to sign a deal to build the pipeline since last month. Egypt has two largely idle liquefaction plants.