Cyprus, Egypt to explore ways of transporting offshore gas

AP News
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Posted: Feb 16, 2015 8:29 AM

NICOSIA, Cyprus (AP) — Cyprus and Egypt have tightened their energy cooperation with an agreement to sort out the technical details of laying an undersea pipeline that would carry offshore natural gas to Egyptian processing facilities.

Egyptian petroleum minister Sherif Ismail and Cypriot Energy Minister Yiorgos Lakkotrypis agreed in Cairo on Monday to find a way to transport gas from a field off Cyprus that is estimated to hold 3.6 trillion to 6 trillion cubic feet of the fossil fuel.

A statement said the details will be examined with other companies involved in gas transport and processing and a deal is expected to be hammered out within six months.

Ismail said in November that his country is looking to import Cypriot gas both for domestic use and for possible re-export to other countries.