Egypt seals agreements to liquefy and re-export Cypriot gas: Egypt’s Oil Ministry yesterday inked two agreements with Cyprus to liquefy and re-export Cypriot natural gas on the sidelines of the first day of the Egypt Energy Show, according to a statement. The agreements come as part of the government’s push to return Egypt to its status as a net LNG exporter.

The agreements involve Cyprus’ Aphrodite and Cronos fields and will see Cyprus ship natural gas from its offshore fields to be liquefied in facilities in Idku and Damietta before being re-exported to foreign markets.

The plan for the Aphrodite field: The previously-approved development and production plan for Aphrodite includes a floating production unit within Cyprus’ exclusive economic zone and a pipeline to transport gas to Egypt, according to a press release (pdf) from Chevron, which holds a 35% stake in the gas field. Shell holds another 35%, while Israel’s NewMed Energy holds the remaining 30% — the field holds an estimated 3.5 tn cubic feet of gas.

The plan for the Cronos field: Gas from the field will be re-exported to European markets after being processed in Zohr facilities and liquified in Damietta, Eni said in a statement. Eni and TotalEnergies each have a 50% interest in the field, which is estimated to hold over 3 tn cubic feet of gas.

“This project leverages Egypt’s existing infrastructure, including export facilities, which are a key enabler for developments in the Region. Egypt and Cyprus reaffirm their roles in the emerging energy hub of the Eastern Mediterranean, which is set to play an increasing role in the global gas supply in the near future,” Eni CEO Claudio Descalzi said.

REMEMBER- We first got word last month that the fields’ joint owners were expected to ink agreements for gas liquefaction and re-export with the Madbouly government. At the time, reports indicated that gas coming from the Cronos deposit was expected to be exported, while gas coming from the Aphrodite field could be used to feed local demand or be exported — we are yet to find out where the gas from the Aphrodite field will end up.

MORE GAS UPDATES FROM EGYPT-

#1- Egypt is reportedly looking to up its imports of Israeli gas by 58% by the middle of 2025, AsharqBusiness reports, citing unnamed government officials. The planned increase would take daily imports of Israeli gas to 1.5 bn cubic feet per day (cf/d) — equivalent to around a quarter of domestic demand.

The increase in Egypt-bound gas will follow developments of Chevron’s Tamar gas field, which will reportedly result in an uptick of output to Egypt by June. The move will eventually bring the field’s production capacity up to 1.6 bn cf/d from 1 bn cf/d currently.

#2- Production from Eni’s Noor field set to go live by mid-2026: Italian energy player Eni plans to begin producing 100 mn cf/d of gas from its Noor field off Egypt’s northern coast by mid-2026, two unnamed government officials told Asharq Business. Eni is also planning to invest USD 80 mn in a new well in the field, with stakeholders set to conduct further seismic surveys later this year to further elucidate the size of gas reserves in the area.

REMEMBER- Egypt recently agreed with Eni to resume drilling at the Zohr gas field to increase production by 220 mn cubic ft per day as part of its boost natural gas production rates to 5 mn cubic ft per day by the end of the year.

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