Egypt agreed to buy all natural gas production from the Cypriot deposit «Venus», which is expected to enter into operation in 2031. Egyptian Natural Gas Holding Co. signed a preliminary agreement with project partners – NewMed Energy LP (30%), Chevron (35%) and Shell (35%). The sides will recommend Aphrodite Midstream Co. to implement a transmission system off the Egyptian coast. The agreement aims to ensure the long-term supply of Egypt, which has become a net importer due to increased demand and reduced domestic production.