By Harry Floodopoulos A particularly interesting political shift seems to be recorded in Brussels around natural gas and the role of domestic energy resources, on the occasion of the informal meeting of the EU Energy Ministers held in Nicosia. And this shift is of special importance to Greece, at a time when [...]
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.
Egypt agreed to buy all natural gas produced from the Venus deposit in Cyprus, as the North African country seeks to secure long-term supply and reduce its dependence on Israel. The country, which is increasingly dependent on imports due to the decrease in its domestic production, receives [...]
