On January 24, 2025, Cyprus' Energy Minister George Papanastasiou and Egypt's Minister of Petroleum Karim Badawi convened in Nicosia to further discussions on natural gas transportation infrastructure.

The primary focus of their discussions was on the commercialization of natural gas deposits within Cyprus' Exclusive Economic Zone (EEZ).

Plans were outlined to transport gas from Cyprus' EEZ to Egypt, facilitating liquefaction and subsequent exports to international markets.

The gas reserves in the area are substantial, exceeding Europe's annual gas consumption across five wells in three blocks.

The meeting aimed to expedite projects that would streamline gas transportation to Egypt for liquefaction and export, maximizing the value of these resources.

Key topics included the Cronos field operated by Eni and the Aphrodite field operated by Chevron, both of which are set to connect to Egypt's gas infrastructure.

Badawi highlighted that the collaboration between Egypt and Cyprus exemplifies a successful regional partnership in natural gas development, leveraging Egypt's advanced infrastructure.

Both ministers emphasized the importance of enhancing energy security through joint infrastructure projects, potentially creating a new energy corridor from the Eastern Mediterranean to Europe.

Discussions also included plans to develop additional areas to establish this energy corridor linking the Eastern Mediterranean to Europe via Egypt.

The significance of these negotiations has increased following Eni's discovery of a major gas reservoir during the 'Cronos-2' drill in early 2024.

Badawi's visit was initiated by Papanastasiou following earlier discussions at the trilateral Cyprus-Egypt-Greece summit held in January 2025.

Legal and technical foundations for initiating development on the Cronos field in 2025 were also discussed during the meeting.