Eni Deal with Egypt and Cyprus for Med Gas Hub

Rome: Eni has signed an agreement with Egypt and Cyprus for the development and export of gas from Block 6 of Cyprus through existing infrastructure in Egypt, to then be liquefied and exported to other European markets, the Italian energy giant said Monday. The agreement aims to establish a gas hub in the Eastern Mediterranean, utilizing existing facilities in Egypt and positioning Cyprus as a key player in gas production and exportation.

According to Ansa News Agency, this agreement marks a significant step towards creating a strategic gas hub in the region. The collaboration will focus on leveraging the existing infrastructure in Egypt, facilitating the transportation and liquefaction of gas for export to European markets. This development is expected to enhance the energy supply chain and expand the market reach for Cypriot gas.