Cyprus and Egypt on Monday signed a Framework Agreement on the development of gas field deposits in the Republic of Cyprus’ exclusive economic zone (EEZ), including the “Cronos” and “Aphrodite” deposits, during the “EGYPES 2026” Conference, held in Cairo, Egypt. The agreement was signed by the Ministers of Energy of Cyprus and Egypt, in the presence of the Presidents of Cyprus, Nikos Christodoulides, and of Egypt, Abdel Fattah al-Sisi.

Based on the agreement, according to an official announcement, the two countries will negotiate, through a joint Committee – to be established – the sale of natural gas to Egypt or Egyptian state-owned companies, with the aim of optimally utilising Cyprus’ hydrocarbons, among other things, for covering Egypt’s energy needs.

It is noted that this “non-binding agreement” is aimed at maximising cooperation between the two states in the hydrocarbons sector through the negotiation of more agreements for the exploitation of Cyprus’ reserves.