Cyprus and Egypt will sign two landmark natural gas agreements in Cairo on Monday, marking the first commercialization of Cyprus’s offshore gas reserves.
Announced by President Christodulides, the agreements hold significant economic weight and promise to reduce electricity prices. One agreement involves Cyprus, Egypt, ENI, and Total, while the other includes Cyprus, Egypt, Chevron, Shell, and NewMed (for the Aphrodite field).
These deals represent a pivotal step towards monetizing Cyprus’s natural gas resources.