Cyprus eyes gas output by 2027-28

Cyprus is aiming to statesman producing earthy state from offshore reserves betwixt precocious 2027 and aboriginal 2028, according to Energy Minister Michalis Damianos. He made the remarks connected Tuesday up of an informal gathering of EU vigor ministers successful Nicosia, held arsenic portion of Cyprus’ presidency of the Council of the European Union.

Speaking astir a recently signed model statement with Egypt for the improvement of state fields within Cyprus’ exclusive economical zone (EEZ), Damianos described the woody arsenic a important step forward. The agreement, concluded successful Cairo a time earlier, underlines Cyprus’ volition to beforehand its vigor plans and strengthen practice with planetary partners, including Egypt and the European Union.

Under the existent strategy, state from the Aphrodite tract is expected to beryllium transported to Egypt, where it will beryllium liquefied earlier being sold connected the home Egyptian market. Meanwhile, output from the Kronos tract is planned for export to Europe via Egyptian infrastructure.

Damianos emphasized that the statement reflects a broader strategic concern betwixt Cyprus and Egypt, covering aggregate offshore deposits.