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English news

23-Sep-2018

Construction of Cyprus underwater gas pipeline to commence in 1Q19

The construction of the underwater pipeline linking Cyprus’ Aphrodite natural gas field with liquefaction facilities in Egypt will reportedly start in 1Q19, just as the final contracts for the project are signed, Petroleum Ministry sources claimed to Al Mal on Thursday. Work on the pipeline should take, at most, two and a half years to complete, they added. Minister of Petroleum, Tarek El Molla, had signed an agreement last week with his Cypriot counterpart, Yiorgos Lakkotrypis, under which both countries are meant to collaborate on establishing the USD0.8-1bn pipeline. Details on the timeline were not provided, but Lakkotrypis had said last month that he expected Royal Dutch Shell’s liquefaction plant in Idku to begin processing gas from Cyprus by 2022. The output should be used both locally and re-exported back to Europe as part of a plan to turn Egypt into a regional energy hub. 

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