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Cyprus and Egypt sign agreement on transport of natural gas

Staff Writer |
Cyprus and Egypt signed an agreement creating the legal framework for energy companies to go ahead with their own commercial talks on the transport of natural gas from Cyprus to Egypt via a sub-sea pipeline.

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The agreement was signed in the Ministry of Commerce, in Nicosia, between Cypriot Energy Minister Yiorgos Lakkotrypis and Egyptian Petroleum and Mineral Resources Minister Tarek El Molla.

In statements after a meeting with Cyprus President Nicos Anastasiades at the Presidential Palace a little later Lakkotrypis said they had informed him that they signed "the first of a series of agreements which are necessary in order to establish a secure investment framework for the transport of natural gas from the Cypriot EEZ to Egypt.”

In essence, he explained, "today we signed an agreement which stipulates that the two countries will respect the provisions of any trade agreements that may take place.”

"We hope that this agreement will facilitate and expedite trade agreements, as I have said, creating a secure investment framework for the sale of natural gas from Cyprus to Egypt,” he added.

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