Minister of Petroleum and Mineral Resources Karim Badawi discussed with Greek Minister of Environment and Energy Stavros Papastavrou and Cypriot Minister of Energy Michael Damianos ways to accelerate the development of natural gas resources in the Eastern Mediterranean and connect them to infrastructure and European markets.
The meeting was held as part of a trilateral meeting on the sidelines of the high-level roundtable of the East Mediterranean Gas Forum (EMGF) in Athens to discuss ways to advance energy cooperation under the trilateral cooperation mechanism among Egypt, Cyprus, and Greece.
Badawi said that the three countries possess complementary capabilities that could support the development of an effective regional gas and energy system, given Cyprus’ promising gas resources, Egypt’s advanced infrastructure for gas transportation, processing, liquefaction, and export, as well as Greece’s strategic geographic location and interconnection networks providing access to Southern and Central European markets.
He stressed the importance of translating these capabilities into concrete projects with technical and commercial viability, generating added economic value from Eastern Mediterranean resources and enhancing energy security. The meeting reviewed developments and plans to develop Cypriot gas resources, particularly the Kronos and Aphrodite projects, by leveraging Egypt’s infrastructure and liquefaction capabilities to transport, process, and re-export gas through Egypt.
This would help accelerate the development of these resources and maximize their economic returns for Egypt, Cyprus, and investment partners in both countries. The ministers also discussed developing and integrating regional gas infrastructure, improving the efficiency and utilization of existing facilities, and assessing requirements for expanding capacity and facilities in line with the growth of Eastern Mediterranean gas resources and changes in demand in target markets.
The meeting highlighted the importance of leveraging Greece’s location, networks, and the Vertical Corridor to establish efficient routes for Eastern Mediterranean gas to reach Southern and Central European markets, supporting the diversification of supply sources and strengthening the integration of European energy markets.
Badawi said that the integration of Egyptian infrastructure with Eastern Mediterranean resources and European interconnection networks would strengthen Egypt’s role as a regional hub for gas trading and open the way for more cross-border projects serving the shared interests of participating countries.
The three ministers stressed the importance of building on ongoing efforts to move from opportunities and plans to the actual implementation of priority projects by intensifying coordination between governments and companies, addressing technical, commercial, and regulatory challenges, and advancing eligible projects toward final investment decisions (FIDs) and implementation.
The meeting also underscored the need to provide a stable and attractive investment and regulatory environment for regional projects through clear regulatory frameworks, streamlined approval procedures, and access to infrastructure under clear commercial arrangements, thereby boosting investor confidence and supporting new investment in cross-border energy projects.
Badawi said that cooperation among Egypt, Cyprus, and Greece had moved from coordinating positions toward developing integrated projects linking Eastern Mediterranean resources with European markets, while working jointly to accelerate project implementation and maximize the economic value of the region’s resources in a way that supports energy security and strengthens the Eastern Mediterranean’s position as an important source of energy supplies to European markets.