Egypt and Cyprus held talks on Wednesday plans to boost cooperation in developing gas infrastructure in the Eastern Mediterranean.
Egypt’s petroleum and mineral resources minister Tariq Al-Mulla and Cyprus’s Minister of Energy Natasa Pilides discussed plans to convert the East Mediterranean Gas Forum to an intergovernmental organization.
The two officials said more meetings will be held in the comping period complete the procedures for the forum.
They also highlighted plans to build a marine pipeline between both countries to transfer natural gas from the Aphrodite gas field of Cyprus and re-export it through Egypt.
A 2010 study by the United States Geological Survey estimated the volume of gas reserves in the eastern Mediterranean basin to be about 345 trillion cubic feet of gas. This basin also contains some 3.4 billion barrels of oil, along with large quantities of gas liquids.
Al-Mulla said the partnership with Cyprus aims to achieve economic integration between the two countries in the field of natural gas and to benefit from the available components of gas resources.
For her part, the Cypriot Minister expressed her appreciation for the pivotal role that Egypt plays in supporting cooperation to exploit the natural gas discovered in the Mediterranean region and achieve economic integration between countries in this field.
She also stressed that Cyprus is looking forward to boost cooperation with Egypt to achieve the mutual benefits for both countries, as well as to support development in the region.