Cyprus Energy Minister attends Mediterranean Offshore Conference in Egypt

Cyprus Minister of Energy, Commerce and Industry, Michalis Damianou, traveled to Alexandria, Egypt, to serve as a keynote speaker at the Mediterranean Offshore Conference. During the event, Damianou held high-level discussions with Egyptian Minister of Petroleum and Mineral Resources Karim Badawi regarding the formation of an integrated energy market in the Eastern Mediterranean. The sessions focused on Egypt's energy future, investment prospects, and the strategic importance of using Egyptian infrastructure for natural gas exports.

During his address, Damianou outlined specific timelines for Cyprus's offshore natural gas assets. The Cronos gas field is scheduled to reach its first production phase in 2028, following a final investment decision. For the Aphrodite field, a final investment decision is expected in the first half of 2027, with production targeted for 2031. These developments signal Cyprus's transition from the exploration phase to active resource development.

Minister Damianou emphasized that bilateral cooperation with Egypt is essential for lowering infrastructure costs and accelerating the exploitation of hydrocarbon reserves. By utilizing existing Egyptian facilities, Cyprus aims to strengthen regional energy security and contribute to the energy supplies of Europe. The Minister also conducted private meetings with international energy executives to further discuss regional energy stability and future partnerships.