Stricter penalties urged on FX real estate purchases    Egypt allocates EGP 9.7bn to Suez governorate for development projects in FY 2023/24    20 Israeli soldiers killed in resistance operations: Hamas spokesperson    Health Minister emphasises state's commitment to developing nursing sector    Sudan aid talks stall as army, SPLM-N clash over scope    Madbouly conducts inspection tour of industrial, technological projects in Beni Suef    Taiwan's tech sector surges 19.4% in April    France deploys troops, blocks TikTok in New Caledonia amid riots    Egypt allocates EGP 7.7b to Dakahlia's development    Microsoft eyes relocation for China-based AI staff    Abu Dhabi's Lunate Capital launches Japanese ETF    Asian stocks soar after milder US inflation data    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Egypt considers unified Energy Ministry amid renewable energy push    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Niger restricts Benin's cargo transport through togo amidst tensions    Egypt's museums open doors for free to celebrate International Museum Day    Egypt and AstraZeneca discuss cooperation in supporting skills of medical teams, vaccination programs    Madinaty Open Air Mall Welcomes Boom Room: Egypt's First Social Entertainment Hub    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Cyprus' Aphrodite gas field; a strategic asset for resilient ties with Egypt
Published in Amwal Al Ghad on 21 - 01 - 2024

Cyprus and Egypt enjoy strong bilateral relations and all-round cooperation in various fields, particularly energy. As soon as the two countries signed a strategic and tactical agreement to link its Aphrodite gas field with Egypt, ties have been reaching a new historic level, a senior diplomatic official said in an interview with Amwal Al Ghad English.
Michalis Michael, Press Counsellor at the Embassy of the Republic of Cyprus to Cairo, said the linkage agreement is expected to bring economic benefits and energy independence to Cyprus.
Aphrodite, discovered in 2011 about 170 km (105 miles) from Limassol, has a crucial link with Egypt, Michael added. The field's partners, Chevron and Shell, plan to construct an underwater pipeline.
No disruption in Aphrodite works amid Gaza war
He pointed out that the third drilling at the Aphrodite gas field, which concluded on July 13, 2023, is expected to bring positive news. This drill was carried out to determine the gas's quality and volume. The Cypriot official doesn't foresee the Gaza situation causing any disruption to this.
This pipeline will link the Aphrodite field to a pre-existing production facility in Egypt, which is being discussed now by the Cypriot government, Michael noted.
This project is anticipated to bring substantial economic gains and bolster Cyprus's energy self-sufficiency, and it is expected to start commercial production in 2027.
Cyprus-Türkiye unfortunate conflict
Michael also discussed the impacts of Türkiye's actions in Cyprus, saying that the Turkish invasion severely damaged the Cypriot economy, especially in sectors of agriculture, tourism, mining, and quarrying. However, he highlighted that the shipping sector suffered the most due to the embargo that Türkiye imposed.
He explained that Türkiye had imposed a ban that prevents Cypriot-flagged vessels from entering its ports and Cypriot aircraft from using its airspace.
This ban, which Türkiye is enforcing, contradicts international and European law, causing significant damage to both Cypriot and European shipping, Michael warned. The maritime and air traffic embargo that Türkiye has enforced is costing Cyprus a substantial economic price.
He also highlighted the importance of the upcoming tripartite summit between Egypt, Cyprus, and Greece, which, will take place in Egypt soon, according to Egyptian foreign minister's recent statement.
This summit presents a great chance to strengthen the collaborative ties between Egypt and Cyprus, Michael concluded.


Clic here to read the story from its source.