Egypt and Cyprus signed a deal on Wednesday for the transfer of natural gas via pipeline.
Noble energy found an estimated 4.5 trillion cubic feet of natural gas in late 2011 Cyprus EEZ block 12.
A consortium of Italy’s ENI and Korea’s KoGas have a contract with Cyprus for exploration over three offshore blocks also French oil major Total has exploration rights over one block.
The signing take place in Nicosia by Egyptian petroleum minister Tarek El Molla and Cypriot energy minister Yiorgios Lakkotrypis.
In a joint statement, the two said the deal would allow a direct subsea pipeline from Cyprus’s exclusive economic zone (EEZ) to either Egypt’s EEZ or onshore Egypt, for domestic consumption or re-export.
