Egypt, Greece, Cyprus Vow to Send Cypriot Gas to Europe via Egyptian Facilities

Leaders from Egypt, Greece, and Cyprus have reaffirmed their support for a project to transport Cypriot natural gas to Europe via Egyptian export facilities. The plan aims to diversify LNG supplies in Europe, which has been disrupted by ongoing conflicts in the Gulf region.

The summit was held on Tuesday at El Alamein on Egypt's Mediterranean coast and was attended by President Abdel Fattah el-Sisi of Egypt, Prime Minister Kyriakos Mitsotakis of Greece, and President Nikos Christodoulides of Cyprus. The leaders signed a joint declaration calling for the completion of work connecting Cyprus' offshore gas fields to Egyptian infrastructure as soon as possible.

The Cronos project is expected to start producing gas in 2028 and will transport gas from Cypriot fields through an undersea pipeline to Egypt, where it will be liquefied and exported by ship. The project is led by Eni and TotalEnergies, which hold a joint 50% stake in the project.

Greece has offered to provide a possible onward route for the gas into southeastern and central Europe through its Revithoussa and Alexandroupolis terminals. Mitsotakis stated that Greece could 'in theory' serve as a gateway for the gas, but emphasized that this would not be a compulsory stop. Eni has announced a new contract worth between $500m and $750m with engineering company McDermott to provide support for the project.