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Sunday, 3 December 2017

Egypt and Cyprus reach preliminary agreement on natural gas pipeline

Egypt and Cyprus reach preliminary agreement on natural gas pipeline: Egypt and Cyprus have reportedly reached a preliminary agreement on extending a natural gas pipeline connecting Cypriot fields with liquefaction plant in Egypt’s Idku, a top Oil Ministry official tells Daily News Egypt. The pipeline, which will take about two years to construct, will pump around 700 mcf per year, part of which will be used for local consumption, while the rest will be exported, the official said. Talks have not yet extended to costs, he also pointed out. Discussions about the connecting pipeline began during President Abdel Fattah El Sisi’s visit to Nicosia last month, where he met with Cypriot counterpart Nicos Anastasiades. El Sisi had said that east Mediterranean gas reserves “can contribute to the European continent’s search for alternative energy sources.”

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