Energean, which operates Israel’s natural gas reservoirs Karish, Tanin, and Katlan, announced that it has signed a memorandum of understanding (MoU) with the Cyfield Group — a leading company in the industrial and energy sectors — for the potential supply of natural gas to planned power generation facility in the Mari area of Larnaca. The agreement and project are subject to approval by the governments of Cyprus and Israel.
Following the signing of the MoU, Energean proposed to the Cypriot and Israeli governments the export of natural gas from Israel to Cyprus via a new pipeline. According to the proposal, Energean will be responsible for the design, construction, and operation of a new undersea pipeline owned by the company, which would connect the Karish production platform—operating in Israel’s exclusive economic waters—directly to Cyprus.
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Shaul Tsemach, CEO of Energean Israel; Eli Cohen, Minister of Energy and Infrastructure
(Photo: Asaf Magal ltd.)
Once the project is completed, Cyprus will become the third country to which Israel exports natural gas—and the first in Europe. The move marks a significant step in strengthening Israel’s alliance with Cyprus and Greece, in contrast to Turkey.
Energy and Infrastructure Minister Eli Cohen said: “Selling gas to Cyprus will strengthen Israel’s diplomatic standing in the region and among European countries, contribute to greater stability and prosperity in our area, and generate billions of shekels in revenue for the state. I intend to continue advancing the expansion of Israeli gas export targets.”
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The route of the natural gas pipeline from the Karish and Tanin offshore platforms to Cyprus
Energean CEO Mathios Rigas stated: “Our proposal offers a practical and efficient solution to reduce Cyprus’s energy isolation by providing direct access to natural gas from a neighboring source, thereby enhancing regional energy cooperation and supporting the transition to cleaner, more sustainable energy.”
Cyfield Group CEO George Chrysocous added: "The collaboration with Energean has the potential to change the future of Cyprus’ energy. We look forward to working closely with the Cypriot and Israeli authorities to bring this important project to fruition, subject to all necessary approvals."
U.S. pressure mounts over Israel-Egypt gas export deal
Meanwhile, U.S. Energy Secretary Chris Wright canceled his planned visit to Israel next week, following Energy Minister Cohen’s refusal to approve the gas export agreement to Egypt until Israel’s interests are secured and a fair price is set for the Israeli market.
In recent days, the U.S. administration has exerted intense pressure on Israeli officials—including Minister Cohen and Prime Minister Benjamin Netanyahu—to approve the $35 billion gas export agreement with Egypt.
Minister Cohen insisted that domestic prices remain attractive for the Israeli market. Since negotiations have not yet concluded, he declined to approve the exports until the issue is resolved. At the same time, diplomatic efforts are underway to settle related political matters between Israel and Egypt.
First published: 05:17, 11.03.25