Cyprus, Egypt sign deal paving way for gas pipeline
NICOSIA- Cyprus and Egypt signed an agreement Wednesday that paves the way for the supply of gas to the Arab nation via an undersea pipeline that officials hope will create a regional energy hub.
Cypriot Energy Minister Yiorgos Lakkotrypis and Egypt's Petroleum Minister Tarek el-Molla said the deal sets the political framework for additional commercial agreements that will determine of how, where and when the gas will reach Egypt.
"This is part of the development of the east Mediterranean gas as a whole and I think our strategy optimally is to position ourselves as an energy hub in the region," el-Molla said after signing the agreement.
