Israel’s NewMed Energy, a 30% partner in Cyprus’ 3.7tcf Aphrodite gas field, announced on 22 July that all parties have signed the memorandum of understanding (MoU) governing gas sales to Egypt’s state gas company EGAS. This includes the governments of Egypt and Cyprus and the field’s partners Chevron (35%) and Shell (35%).
MEES understands the MoU is the same document previously referred to as the Gas Sales Agreement (GSA) Term Sheet announced during April’s Egypt Energy Show (EGYPES) in Cairo (MEES, 10 April). (CONTINUED - 253 WORDS)