Ahmed Kamel – Egypt Daily News
Egypt has moved to strengthen its energy security by signing a long-term agreement to import natural gas from Cyprus’ offshore Aphrodite field, in a deal that will span 15 years with the possibility of a five-year extension.
The agreement, signed by the Egyptian Natural Gas Holding Company, grants Egypt the right to purchase the full production output of the Aphrodite field once operations begin, which is expected within the next six years.
The preliminary deal was concluded with the international consortium developing the Aphrodite project, alongside Cyprus’ state-owned energy company. As part of the arrangement, both sides also agreed on a framework to build a subsea gas transportation system linking the field to Egypt.
To support this infrastructure, a new entity Aphrodite Midstream Co., will be established in Egypt to oversee the development and operation of the transmission network. The project partners include Chevron Corporation and Shell plc, each holding a 35% stake, alongside NewMed Energy, which owns the remaining 30%.
Cypriot officials indicated that the agreement could pave the way for additional gas export arrangements in the future, including potential supplies from other offshore fields such as Cronos.
The deal builds on a broader framework for energy cooperation agreed upon by Egypt and Cyprus during the Egypt Energy Show (EGYPES 2026) held in March, aimed at expanding regional gas collaboration in the Eastern Mediterranean.
For Egypt, the agreement is part of a wider strategy to diversify its energy sources and ensure stable gas supplies amid rising domestic demand. The government has also introduced measures to attract foreign investment in exploration and production, including plans to clear outstanding payments owed to international partners by mid-year.
The Aphrodite deal underscores Egypt’s growing role as a regional energy hub, leveraging its infrastructure and strategic location to secure long-term supply agreements and strengthen ties with neighboring producers.
