Egypt, Cyprus, and Greece discuss accelerating exploitation of Eastern Mediterranean resources and linking them to European markets

Cairo - Nadeh Imam: Petroleum and Mineral Resources Minister Eng. Karim Badawi held talks with Greek Environment and Energy Minister Stavros Papastavrou and Cypriot Energy Minister Michael Damianos on ways to advance energy cooperation within the framework of the trilateral cooperation mechanism among Egypt, Cyprus, and Greece, and to accelerate the exploitation of natural gas resources in the Eastern Mediterranean, linking them to European infrastructure and markets. The discussions took place during a trilateral meeting held on the sidelines of the high-level roundtable of the Eastern Mediterranean Gas Forum in Athens.

Badawi emphasized that Egypt, Cyprus, and Greece possess complementary assets that enable the construction of an effective regional gas and energy system, given Cyprus’s promising gas resources, Egypt’s advanced infrastructure for transporting, processing, liquefying, and exporting gas, and Greece’s strategic geographic location and interconnection networks that provide access to southern and central European markets.

The minister stressed the importance of translating these assets into concrete, technically and commercially viable projects that add economic value to Eastern Mediterranean resources and enhance energy security.

The meeting reviewed updates and development plans for Cypriot gas resources, notably the “Chronos” and “Aphrodite” projects, leveraging Egypt’s infrastructure and liquefaction capabilities to transport, process, and re-export gas through Egypt. This approach aims to accelerate the exploitation of these resources and achieve optimal economic returns for Egypt, Cyprus, and investment partners in both countries.

The ministers also discussed the development and integration of regional gas infrastructure, improving the efficiency and utilization of existing facilities, and assessing expansion needs for capacities and facilities in line with the growth of gas resources in the Eastern Mediterranean and evolving demand in target markets.

In this context, the meeting highlighted the importance of leveraging Greece’s location, networks, and the vertical gas corridor to open effective pathways for Eastern Mediterranean gas to reach southern and central European markets, thereby supporting supply diversification and strengthening the interconnection of European energy markets.

Eng. Karim Badawi affirmed that integrating Egypt’s infrastructure with Eastern Mediterranean resources and European interconnection networks enhances Egypt’s role as a regional hub for gas trading and commerce, paving the way for additional cross-border projects that serve the shared interests of participating countries.