South Cyprus and Egypt have signed a memorandum of understanding to explore the possibilities of transporting natural gas via an underwater pipeline.
The agreement was signed by the Cyprus hydrocarbon company and Egypt’s natural gas holding company at Sharm El Sheikh.
Both companies have agreed to look into technical solutions to transport natural gas from South Cyprus’ offshore bloc 12 to Egypt through an underwater pipeline.
“Without a doubt, the memorandum of understanding is an important step to strengthen the co-operation of Egypt and Cyprus in the area of oil and natural gas, which will further the friendly relations between the two countries,” the announcement said.
Source Cyprus Mail