Cyprus is nearing an agreement to sell natural gas to Egypt, Bloomberg reports. This would follow the agreement with Israel and would include supplies from the Aphrodite field. “Cyprus is close to selling natural gas to Egypt’s liquefied natural gas plants, and we could reach an agreement in the coming weeks,” Energy Minister Georgios Lakkotrypis said. “This is basically the moment when, finally, all the talk about turning Egypt into a regional gas hub is finally coming true,” Riccardo Fabiani, senior Mideast analyst for Eurasia Group, said. Wood Mackenzie analyst Stephen Fullerton agrees, saying “there’s currently a lot of exploration going on in Cypriot waters, and it is likely more gas will be discovered … Any further discoveries will be looking for an export route, with Egypt a potential option.” Reuters also has the story.

Credit where due: The agreement with Cyprus is a testament to good diplomacy, as successive governments under the Sisi administration have made relations with our northern neighbor a priority.

…A USD 15 bn import agreement with Israel announced earlier in the week will help transform Egypt into a regional energy hub, President El Sisi said yesterday, according to Bloomberg. “We have scored a goal … I’ve been dreaming about it for four years, that we become a regional hub for energy,” he said. Probably with an eye on Cyprus, El Sisi also said “all the gas coming from around the region will come to us … It’s either re-exported to other countries or we use it locally.” The Associated Press also covered El Sisi’s comments, as did Ahram Online.