On January 24, 2025, Cyprus' Energy Minister George Papanastasiou met with Egypt's Minister of Petroleum Karim Badawi in Nicosia to discuss natural gas transportation infrastructure.

This meeting was a continuation of discussions initiated at the trilateral Cyprus-Egypt-Greece summit earlier in January.

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

Plans were outlined to transport gas from Cyprus' EEZ to Egypt for liquefaction and subsequent export to international markets.

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.

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

The 'Cronos' discovery in offshore Block 6 of the Cyprus EEZ was highlighted as a key resource for this initiative.

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

Cyprus' EEZ, established in 2004, borders the economic zones of Greece, Turkey, Syria, Israel, and Egypt, with offshore gas discoveries reported since 2011.

The proposed infrastructure would facilitate the commercialization of Cyprus' natural gas by allowing transportation to Egypt for liquefaction and subsequent exports.

The discussions reflect a growing cooperation between Cyprus and Egypt regarding the transportation of natural gas.

This working visit by Badawi was initiated by Papanastasiou to continue the dialogue from a previous meeting in Cairo during the Cyprus-Egypt Intergovernmental Summit.