Cypriot President Nicos Anastasiades (left) and Molla talk during a meeting at the presidential palace in Nicosia. REUTERS/Yiannis Kourtoglou
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Cyprus and Egypt Wednesday signed an agreement paving the way for the Mediterranean's first subsea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe.Texas-based Noble Energy in 2011 made the first discovery off Cyprus in the Aphrodite block estimated to contain 130 billion cubic meters of gas but it has yet to be extracted.Cyprus aims for natural gas to start flowing to Egypt's LNG facilities in 2022, thus generating its first revenue from natural gas.
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