{"id":684818,"date":"2026-02-15T00:00:00","date_gmt":"2026-02-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/15\/cyprus-agrees-to-foot-the-entire-usd-2-bn-bill-for-the-aphrodite-pipeline\/"},"modified":"2026-02-15T00:00:00","modified_gmt":"2026-02-15T00:00:00","slug":"cyprus-agrees-to-foot-the-entire-usd-2-bn-bill-for-the-aphrodite-pipeline","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/15\/cyprus-agrees-to-foot-the-entire-usd-2-bn-bill-for-the-aphrodite-pipeline\/","title":{"rendered":"Cyprus agrees to foot the entire USD 2 bn bill for the Aphrodite pipeline"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Cyprus pivots on Aphrodite as it agrees to cover all pipeline costs<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Cyprus has agreed to bank roll the USD 2 bn pipeline connecting <\/strong><strong>its Aphrodite field to liquefaction facilities in Egypt<\/strong>, a government official tells EnterpriseAM. Cypriot negotiators had initially been pushing for a 50:50 split, but agreed to cover the costs in exchange for utilizing Egyptian infrastructure, including its regasification vessels and liquefaction plants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>With domestic production slumps proving hard to turn around, securing flows from Aphrodite\u2019s estimated 3.5 tcf of reserves will be critical for Egypt to ensure that its energy export hub plans will one day see the light of day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next?<\/strong> Construction on the pipeline is expected to start in 2027 with gas flows planned to start flowing in 2030, our source tells us. And in the near term, keep your eyes peeled for this year\u2019s Egypt Energy Show in late March, which is expected to be accompanied with some big announcements on our gas re-export ambitions with Cyprus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Orascom Construction sees revenues and net income rise in 2025<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Orascom<\/strong><strong> Construction saw its net income rise 65.3% y-o-y to <\/strong><strong>USD 195.0 <\/strong><strong>in <\/strong><strong>2025<\/strong>, according to its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/907.pdf\" style=\"\" rel=\"noopener\">preliminary unaudited results (pdf)<\/a>. This was supported by revenues climbing 55.4% y-o-y to USD 5.1 bn over the same period, driven by progress across major projects in Egypt, the UAE, Saudi Arabia, and the US, with MEA projects contributing 57% to the total.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The co<\/strong><strong>mpany\u2019s backlog<\/strong><strong> \u2014 excluding its share in Besix \u2014 was up 18.9% y-o-y to USD 9.0 <\/strong><strong>bn<\/strong>, while new awards were up 86.6% to USD 5.6 bn. Projects over the pond in the states contributed the lion\u2019s share with USD 3.5 bn on the back of data center projects, while new awards in the Middle East and Africa hit USD 2.1 bn and included power, renewable energy and commercial projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: Orascom Construction sees revenues and net income rise in 2025<\/p>\n","protected":false},"author":1,"featured_media":684819,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,409,93,72,91,363],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-earnings-watch","tag-energy","tag-enterpriseam","tag-oil-and-gas","tag-orascom-construction","wpautop","entry"],"acf":{"mongo_id":"25a857b5-b399-4efc-bf86-d96eb9217c97","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/2\/926.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Cyprus agrees to foot the entire USD 2 bn bill for the Aphrodite pipeline","related_issue":[684797],"teaser":"Plus: Orascom Construction sees revenues and net income rise in 2025"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cyprus agrees to foot the entire USD 2 bn bill for the Aphrodite pipeline - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/02\/15\/cyprus-agrees-to-foot-the-entire-usd-2-bn-bill-for-the-aphrodite-pipeline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cyprus agrees to foot the entire USD 2 bn bill for the Aphrodite pipeline\" \/>\n<meta property=\"og:description\" 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&quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1763.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624916,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/fate-of-natural-gas-pipeline-from-cyprus-hinges-on-nicosias-talks-with-aphrodite-field-partners\/","url_meta":{"origin":684818,"position":3},"title":"Fate of natural gas pipeline from Cyprus hinges on Nicosia\u2019s talks with Aphrodite field partners","author":"enterpriseam admin","date":"23 September 2018","format":false,"excerpt":"Fate of natural gas pipeline from Cyprus hinges on Nicosia\u2019s talks with Aphrodite field partners: Construction of an underwater pipeline linking Cyprus\u2019 Aphrodite natural gas field with liquefaction facilities in Egypt will reportedly start in 1Q2019, just as the final contracts for the project are signed, Oil Ministry sources claimed\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622763,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/11\/four-global-investment-firms-looking-to-finance-egypt-cyprus-usd-1-bn-gas-pipeline\/","url_meta":{"origin":684818,"position":4},"title":"Four global investment firms looking to finance Egypt, Cyprus\u2019 USD 1 bn gas pipeline","author":"enterpriseam admin","date":"11 October 2018","format":false,"excerpt":"** #6 Four global investment firms are looking to finance Egypt and Cyprus\u2019 USD 1 bn underwater gas pipeline, commercial affairs head at the Cypriot embassy in Israel, Sofronis Papageorgiou, tells Bloomberg. The four firms, whose names Papageorgiou declined to disclose, have requested a progress update from the Cypriot government\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596746,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/el-sisi-ratifies-egypt-cyprus-pipeline-agreement\/","url_meta":{"origin":684818,"position":5},"title":"El Sisi ratifies Egypt-Cyprus pipeline agreement","author":"enterpriseam admin","date":"7 July 2019","format":false,"excerpt":"President Abdel Fattah El Sisi ratified an agreement between Egypt and Cyprus to build a natural gas pipeline, the local press reported. The pipeline will allow natural gas from the Aphrodite gas field to be transported to Egypt\u2019s liquefaction facilities at Idku and Damietta, and re-exported as liquefied natural gas.\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=684818"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/684818\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/684797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/684819"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=684818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=684818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=684818"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=684818"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=684818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}