Egypt to ink agreement with Eni-Total consortium for exporting Cypriot natural gas

Egypt to ink agreement with Eni-Total consortium for exporting Cypriot natural gas
A Total gas station on July 19, 2016 in Cairo, Egypt.

Egypt, alongside energy giants Total from France and Italy's Eni, is set to sign an agreement next month to transport natural gas from Cyprus's Cronos deposit to Egypt for liquefaction and export, officials announced Friday. The deal, described as "most significant" by Cypriot Energy Minister George Papanastasiou, details the technical plans for extracting and shipping the gas, primarily to European markets. The Cronos field, potentially richer than the 4.2 trillion cubic feet Aphrodite deposit, could decide on extraction methods by summer.

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