The agreement marks a significant step toward finalizing the financial, commercial, and regulatory frameworks required to advance the project, paving the way for gas produced from the Aphrodite field to be transported to Egypt.
Egypt’s Ministry of Petroleum and Mineral Resources and global energy company Chevron have initialed a fiscal agreement for the development of Cyprus’ Aphrodite gas field and its connection to Egypt’s natural gas infrastructure.
The agreement marks a significant step toward finalizing the financial, commercial, and regulatory frameworks required to advance the project, paving the way for gas produced from the Aphrodite field to be transported to Egypt.
The project aims to utilize Egypt’s advanced infrastructure for receiving, processing, and liquefying natural gas, allowing supplies to be directed to domestic and international markets based on market demand and the project's economic feasibility.
The development represents a key step in strengthening natural gas cooperation between Egypt and Cyprus by connecting Cypriot gas resources to Egyptian infrastructure.
This integration is expected to maximize the economic value of gas discoveries in the Eastern Mediterranean, facilitate access to international energy markets, and reinforce Egypt’s position as a regional hub for natural gas trading.
Progress in establishing the project's regulatory and commercial frameworks also reflects continued cooperation between Egypt and Cyprus, alongside international energy companies, to transform Eastern Mediterranean energy opportunities into commercially viable projects.
These efforts are expected to improve the utilization of regional gas resources while creating additional investment opportunities in the energy sector.
Discovered in 2011 off the coast of Cyprus, the Aphrodite gas field holds estimated reserves of approximately 3.7 trillion cubic feet of natural gas.
The development plan involves connecting the field to Egypt's national gas network through an approximately 280-kilometer offshore pipeline.
The project is designed to help meet Egypt's domestic energy demand while enabling gas liquefaction at Egyptian facilities for re-export to international markets, contributing to regional energy security.
In March 2026, Egypt's Ministry of Petroleum and Chevron initialed a host government agreement related to the project.
Earlier, in February 2025, Cyprus and Chevron approved a revised development plan for the Aphrodite field, including a floating gas processing facility and a pipeline connection to Egypt.
