Cairo – Mubasher: The new gas pipeline from Cyprus’ Aphrodite gas field to Egypt will cost between $800 million and $1 billion, Egypt's petroleum minister Tarek El Molla revealed on Monday.
Speaking on the sidelines of his meeting with his Cypriot counterpart Yiorgos Lakkotrypis, El Molla noted that Egypt will liquefy and export part the Cypriot gas to Europe.
In November, Egypt and Cyprus signed an initial agreement to establish a gas pipeline from Cyprus to Egypt.
On another note, Egypt’s natural gas production increased to 5.7 billion cubic feet per day as a result of new production coming online, compared to 5.5 billion cubic feet in February, El Molla added.
