Egypt and Cyprus Strengthen Energy Ties: Key Deals for Gas Exportation
Energy collaboration has become a focal point in the Eastern Mediterranean, as Egypt and Cyprus recently formalized significant agreements to export natural gas, underscoring their strategic partnership and the region’s growing role in Europe’s energy security.
These agreements aim to facilitate the export of natural gas from the offshore Cronos and Aphrodite fields. These deals, signed with TotalEnegries, Eni, Chevron, NewMed Energy, and Shell, promise to elevate the region’s energy profile. Positioning Egypt as a key center for liquified natural gas (LNG) production and distribution.
The Cronos gas field is a critical asset located offshore Cyprus, and it is expected to play a crucial part in responding to Europe’s energy demands. As the continent seeks alternatives towards traditional energy sources.
Some estimations suggest that the Cronos field contains significantly more gas than the Aphrodite field, which is valued at 3.6 trillion cubic feet. According to Claudio Descalzi, CEO of Eni, this partnership is a vital step in enhancing energy exchange across the Mediterranean, bringing Cyprus and Egypt closer to their shared goal of establishing an Eastern Mediterranean energy channel.
In September 2024, in collaboration with major global energy players, Cyprus submitted a revised development plan for Aphrodite, outlining a powerful strategy to bring the gas to market. The revised plan includes the construction of an independent floating production facility above the field, designed to produce up to 800 million cubic feet of gas per day. This capacity will be directly linked to Egypt’s transmission system, facilitating efficient export operations.
The Aphrodite gas field is set to become an essential resource in the regional energy market, with expected export flows aimed at reinforcing energy security in Europe. The significant investment required for this project—estimated at around $4 billion—reflects the scale of the endeavor and the increasing interest in the region’s energy potential. As these agreements unfold, they pave the way for greater energy cooperation and ensure the sustainable development of resources in the Eastern Mediterranean.
Cyprus President Nikos Christodoulides expressed approval in regard to the agreements as transformative for regional energy dynamics. By deepening the strategic partnership between Cyprus and Egypt, these deals also reinforce the broader geopolitical objectives of enhancing energy security across the Mediterranean basin. The collaboration is offered to provide a more stable and diverse energy supply for Europe, an essential consideration as the continent seeks to diversify its energy sources amidst global supply uncertainties.
Moreover, this collaboration is not isolated. Talks with ExxonMobil and Qatar Petroleum are also progressing, aiming to explore additional resources and expand the region’s energy footprint further. This highlights a growing regional commitment to developing sustainable energy solutions and ensuring that both Cyprus and Egypt remain at the forefront of energy innovation and security.
The agreements signed between Egypt and Cyprus represent a critical moment in the development of the Eastern Mediterranean as a major energy player on the global stage. They signal the region’s potential to not only meet Europe’s energy needs but also establish itself as a key exporter of natural gas, further integrating the Mediterranean basin into global energy markets.
As these projects advance, they promise to create substantial economic benefits for both Egypt and Cyprus, fostering long-term stability, and attracting further investment in the energy sector. The collective effort of countries and companies in the region to unlock energy resources will play a pivotal role in shaping the future of the Eastern Mediterranean’s energy landscape.
With energy security increasingly being viewed through a geopolitical lens, the collaboration between both nations offers a blueprint for future partnerships, presenting opportunities for both countries to make use of their natural resources, drive regional economic growth, and reinforce their roles as critical players in global energy markets.
The growing energy partnership between Egypt and Cyprus is not just a bilateral success but a crucial moment for regional cooperation in the Eastern Mediterranean. By exporting natural gas from the Cronos and Aphrodite fields, the two countries are laying the foundation for a more energy-secure and economically robust region. As the energy landscape continues to evolve, the Eastern Mediterranean stands prepared to become a major player in global energy markets, with Egypt and Cyprus leading the charge.
References
Bloomberg. (2025). Egypt Signs Deals With Cyprus to Export Cronos, Aphrodite Gas. Retrieved from https://www.bloomberg.com
AP News. (2025). Agreements on Getting Cyprus Natural Gas to Market via Egypt Hailed as Energy Cooperation Milestone. Retrieved from https://apnews.com
Reuters. (2024). Companies Submit $4B Plan to Develop Cypriot Gas Field Aphrodite. Retrieved from https://www.reuters.com
Egypt Today. (2025). Egypt, Cyprus discuss cooperation in developing natural gas fields. Retrieved from https://www.egypttoday.com
