Egyptian Petroleum Minister Tarek El Molla said Monday that the planned pipeline connecting Cyprus’ Aphrodite gas field to Egypt’s liquefied natural gas (LNG) facilities will cost USD0.8-1bn. Speaking at a joint news conference with Cypriot Energy Minister Yiorgos Lakkotrypis, El Molla said that Cypriot gas would be used in part for domestic consumption and in part for export. Lakkotrypis said a final agreement on the pipeline would be signed as quickly as possible without specifying when. El Molla said domestic gas production has increased to 5.7bcf/day as a result of new production coming online, up from 5.5bcf/day in February.
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