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Egypt, Cyprus Sign an Agreement to Construct the $800M Hope Pipeline

Source: Gulfoilandgas.com - Articles 9/19/2018, Location: Egypt

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The Minister of Energy of Cyprus, Mr. George Lakkotrypis, and the Minister of Petroleum and Mineral Resources of Egypt, Eng. Tarek El Molla, signed an agreement on September the 19th, to establish the hope pipeline, which shall link the Aphrodite gas reserve (4,5 tcf) of Cyprus to the Egyptian infrastructure, so that the Cypriot gas is liquefied in the LNG plants in Egypt and then be re-exported to Europe and Asia. The estimated cost of the pipeline will be 800 million USD.

Reversing the Gas Flow

The "Egypt Gas Puzzle" series was created by Gulfoilandgas.com to highlight the geopolitics of Egyptian Natural Gas development and to document a revisited strategy for monetizing gas discoveries in the Eastern Mediterranean that includes the new Egypt. Reversing the Flow article was published on April 2nd, 2014, to explain how can Egypt's idle gas export infrastructure realize the energy security needs of Egypt and the region. It also suggested the most economic way for monetizing new gas discoveries offshore Cyprus via the "Hope pipeline".

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