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Egypt’s parliament this week passed a law approving the construction of a pipeline from Cyprus’ economic waters, clearing the path for the development of the Mediterranean island’s 4.5tcf December 2011 Aphrodite discovery.
MEES understands operator Noble Energy is close to concluding a deal with Nicosia to renegotiate the Aphrodite production sharing contract ( MEES, 29 June 2018 ).
The pipeline agreement further solidifies relations between the two countries who are both members of the newly formed East Mediterranean Gas Forum which met for the first time in January in Cairo. The energy ministers of Egypt, Israel, Cyprus, Greece, Italy, Jordan and Palestine were all present. (CONTINUED - 246 WORDS)