Thursday 13 Mar
Nikos Christodoulides, President of the Republic of Cyprus, received Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, during his official visit to the Cypriot capital, Nicosia.
During the meeting, Badawy delivered a personal message from President Abdel Fattah El-Sisi, which included an official invitation to the Cypriot president to attend the Egypt International Energy Conference and Exhibition (EGYPES), scheduled to be held next February.
This meeting follows the recent 10th trilateral cooperation
summit between Egypt, Cyprus, and Greece, held in Cairo this month. A key
outcome of the summit was a renewed emphasis on strengthening natural gas
cooperation among the three countries.
The Egypt Petroleum Show (EGYPES) is anticipated to witness
the signing of crucial agreements for the development of the Cronos and
Aphrodite gas fields, situated within Cyprus's exclusive economic zone. These
agreements will facilitate the connection of these fields to Egyptian
infrastructure. This development will expedite natural gas production from
these fields and ensure its delivery to both domestic and international
markets, leveraging Egypt's sophisticated processing, transportation, and
liquefaction capabilities.
The Cypriot President expressed gratitude for the invitation
and confirmed his attendance, eagerly anticipating the signing of significant
agreements for the development of Cypriot gas fields. He expressed optimism
regarding the imminent commencement of these projects in collaboration with
Egypt, emphasizing their crucial role in strengthening economic integration and
energy security between both nations.
These efforts align with the Ministry of Petroleum and Mineral Resources' strategy, which is anchored on six key pillars. The second pillar prioritizes maximizing the value of petroleum resources by leveraging Egypt's robust infrastructure, encompassing refineries, petrochemical complexes, transportation networks, and processing and liquefaction plants, with the aim of generating substantial economic benefits. The sixth pillar focuses on fostering regional cooperation to attract investments and drive economic integration between Egypt and neighboring countries.
