Trade agreements are currently being negotiated
- Study results expected in coming days, according to Cyprus energy minister
- Agreement to carry out study was signed in March
- Egyptian Natural Gas Holding Company and Cyprus Hydrocarbons Company signed the agreement
The results of a study looking at transporting natural gas from Cyprus Aphrodite field to Egypt are expected to be ready over the coming days, according to Cyprus Energy Minister Giorgos Lakkotrypis.
Lakkotrypis added that the study would be followed by the establishment of trade agreements, which are currently being negotiated, according to the Nicosia-based newspaper Cyprus Mail.
In March, Egyptian Natural Gas Holding Company (Egas) signed an agreement with Cyprus Hydrocarbons Company (CNHC) committing to a study looking at the feasibility of importing gas from Cyprus Aphrodite field through a maritime pipeline.
Aphrodite is located in exploratory drilling block 12, within Cyprus maritime Exclusive Economic Zone.
Block 12 is believed to hold between 3.6 and 6 trillion cubic feet of natural gas.
The Aphrodite field is operated by US-based Nobel Energy, which has a 70 per cent stake in the concession.
Its partners, Israels Delek Drilling and Avner Oil Exploration, each hold 15 per cent stakes.
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