{"id":710448,"date":"2026-06-15T00:00:00","date_gmt":"2026-06-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=710448"},"modified":"2026-06-15T02:46:16","modified_gmt":"2026-06-15T02:46:16","slug":"pegasus-and-glaucus-join-cypriot-gas-fields-pumping-our-way","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/15\/pegasus-and-glaucus-join-cypriot-gas-fields-pumping-our-way\/","title":{"rendered":"Pegasus and Glaucus join Cypriot gas fields pumping our way"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt <\/strong><strong>agreed<\/strong><strong> with QatarEnergy and ExxonMobil to receive and re-export gas from Cyprus\u2019s Pegasus and Glaucus fields<\/strong> through Egyptian pipeline networks, processing plants, and liquefaction facilities at Idku and Damietta. The framework would see Egypt collect transit and processing fees, the <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/136465\/%D9%85%D8%B5%D8%B1-%D8%A8%D9%88%D8%A7%D8%A8%D8%A9-%D9%84%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%82%D8%A8%D8%B1%D8%B5%D9%8A-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9\/\" style=\"\">Arabic press<\/a> reports, citing an unnamed government official. The arrangement follows an MoU signed in <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/leoni-lines-up-eur-80-mn-for-new-electric-cables-and-wiring-facility\/\" style=\"\">late May<\/a> to explore how to link Cypriot gas discoveries to the country\u2019s energy infrastructure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The two fields \u2014 part of a block operated by <\/strong><strong>ExxonMobil <\/strong><strong>(60%)<\/strong><strong> and QatarEnergy (40%)<\/strong><strong> \u2014 are targeting production of 1 bcf\/d by 2030<\/strong>, with recoverable reserves estimated at 7 tcf. Gas will first travel via subsea pipelines to Egypt, then be processed at facilities that could include Zohr or Burullus, liquefied at Idku and Damietta, and finally re-exported to global markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian infrastructure prevailed over two alternative options, <\/strong>including dedicated production\/liquefaction facilities inside Cyprus and floating production units near the concession area. The fields\u2019 proximity to Egyptian territorial waters gave the country a competitive edge, as did ExxonMobil\u2019s existing concession blocks in Egypt. Egypt\u2019s gas network can handle c. 9 bcf\/d, with surplus processing capacity on the Mediterranean coast exceeding 2 bcf\/d and combined LNG export capacity at Idku and Damietta reaching c. 1.9 bcf\/d, according to the official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> Egypt remains home to the Eastern Mediterranean\u2019s only large-scale LNG export facilities through the Idku and Damietta liquefaction plants, with a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/issues\/adib-extends-usd-235-mn-to-al-seer-marine-bgn-to-finance-vlgcs\/\" style=\"\">combined nameplate capacity<\/a> of roughly 16.7 bcm per year, PM Mostafa Madbouly said on Saturday (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ooOzz7E56lA\" style=\"\">watch, runtime: 2:25<\/a>). To replicate a single liquefaction plant like Idku would take competitors five to seven years and more than USD 10 bn, Madbouly added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT- Pegasus and Glaucus would become the third Cypriot gas development routed through Egyptian infrastructure. <\/strong>Egypt and Cyprus signed <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/22\/another-step-toward-bringing-in-cypriot-gas-for-liquidation-re-export\/\" style=\"\">agreements<\/a> in October to move gas from the Eni-operated Cronos field (3.1 tcf estimated reserves) to Egyptian processing and liquefaction facilities, with initial deliveries expected in 2027 at c. 500 mmcf\/d. Two months ago, Egyptian Natural Gas Holding Company signed a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/14\/egypt-to-buy-all-gas-from-cyprus-aphrodite-field-under-new-pipeline-agreements\/\" style=\"\">15-year gas sales agreement<\/a> to purchase the entirety of Cyprus\u2019s 3.7 tcf Aphrodite field output, underpinned by a USD 2 bn+ subsea pipeline. Total Cypriot gas inflows heading our way are expected to reach c. 1.3 bcf\/d by end-2028 from <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/logistics\/2025\/07\/30\/egypt-secures-lng-supply-through-2026-plans-to-boost-domestic-production-for-exports\/\" style=\"\">Cronos and Aphrodite<\/a> gas fields.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Watch out for a gas sales agreement and host government agreement that lock in the fee structure and pipeline routing. Egypt is targeting a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/14\/govt-wants-to-boost-gas-production-to-6-6-bn-cf-d-by-2027\/\" style=\"\">return to gas exports<\/a> by 2027, backed by expectations that domestic production will rise to 6.6 bcf\/d \u2014 Pegasus and Glaucus add volume behind that target, though they are slated to arrive later, in 2030.<\/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\">Upping our own LNG<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is aiming to add 120 mmcf\/d of natural gas before the end of June by connecting nine new wells<\/strong> across the Mediterranean, Nile Delta, and Western Desert at a cost of c. USD 100 mn, the <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/136466\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%A5%D8%B6%D8%A7%D9%81%D8%A9-120-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%82%D8%AF%D9%85-%D9%85%D9%83%D8%B9%D8%A8%D8%A9-%D8%BA%D8%A7%D8%B2-%D9%8A%D9%88%D9%85%D9%8A%D8%A7-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D9%8A%D9%88%D9%86%D9%8A%D9%88\/\" style=\"\">Arabic press<\/a> reports, citing an unnamed government official. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Apache leads with 45 mmcf\/d from three new wells at the Jumanah field in the Western Desert; Eni adds 40 mmcf\/d from the deepwater Nidoco-2 well in the Mediterranean; and Cheiron Petroleum brings 20 mmcf\/d online from Badr-15 in its Western Desert concession. Dana Gas, Capricorn Energy, and HBS will add 15 mmcf\/d from three new onshore wells within their respective concession areas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong>Although not a huge volume, this new output helps offset the country\u2019s natural depletion rate of roughly 100 mmcf\/d per month, keeping production from slipping further below the 4 bcf\/d mark.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The agreement cements Egypt\u2019s strategy to act as an East Med infrastructure middleman<\/p>\n","protected":false},"author":1,"featured_media":710449,"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":[7207],"tags":[915,598,12719,110,93,197,72,778,91,8587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-710448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-apache","tag-capricorn-energy","tag-cheiron","tag-dana-gas","tag-energy","tag-eni","tag-enterpriseam","tag-exxonmobil","tag-oil-and-gas","tag-qatarenergy","wpautop","entry"],"acf":{"mongo_id":"a7132730-0705-446c-9ecd-e66900384451","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/318.jpg","photo_position":"above","homepage_title":"","full_issue_title":"More Cypriot gas","related_issue":[710440],"teaser":"The agreement cements Egypt\u2019s strategy to act as an East Med infrastructure middleman"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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