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Exporting gas: signing of an agreement between Eni, Egypt and Cyprus

18/02/2025
Source : ORISHAS FINANCE
Categories: Raw materials Sectors

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Dans l' intention d' assurer le développement et l' exportation du gaz du bloc 6 de Chypre via l' infrastructure existante en Egypt Eni signed an agreement with Egypt and Cyprus.

Oil major Eni released a statement according to which, the agreement defines a global framework for the rapid development of the Cronos gas discovery off the coast of Cyprus: the gas will be transported and processed in the Zohr infrastructure, then liquefied in the LNG plant in Damietta and exported to European markets. According to the statement, “this agreement represents a concrete step for the creation of a gas center in the Eastern Mediterranean, building on Egypt's existing infrastructure and positioning Cyprus as a gas producer and exporter.” According to Claudio Descalzi, CEO of the company, “this agreement allows Cypriot gas to be brought to the market in a timely manner, thus contributing to energy security and the competitiveness of energy

supplies.”
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