Cyprus-Egypt natural gas pipeline set to cost between US$800mn to US$1bnThursday, 10 May 2018 06:07The pipeline aims to smooth gas transportation to the other parts of the country and to the international market. (Image source: Adobe Stock)The planned gas pipeline from Cyprus’ Aphrodite gas field to Egypt’s liquefied natural gas (LNG) facilities is expected to cost between US$800mn and US$1bn, according to Tarek El Molla, Egyptian petroleum ministerAs reported by Reuters, the planned natural gas pipeline is in line with the North African country ambitious plan to increase the production of natural gas and emerge as regional hub for export. The North African country focuses on putting an end to the gas imports by 2019 by increasing domestic production. Egypt has a vast network of natural gas pipeline along with two gas liquefaction plants that are used to quickly export new gas as soon as it comes, said the source. The source further added that Egypt’s domestic gas production has increased to 5.7 bcf per day, which is up from 5.5 bcf in February.

Source: The North Africa Journal May 10, 2018 06:00 UTC