Key agreements on the development of Cyprus’ Aphrodite gas field are expected to be signed in Egypt during the Mediterranean Offshore Conference and Exhibition (MOC 2026), taking place in Alexandria from 20 to 22 October.
According to Egypt Oil & Gas, the conference programme includes agreements involving US energy company Chevron, Egyptian state-owned gas company EGAS and Egypt’s Ministry of Petroleum and Mineral Resources.
The agreements are expected to establish key financial and commercial arrangements for the project, bringing it closer to a final investment decision and the construction of the necessary infrastructure.
Three agreements set to be signed
The planned agreements cover three areas central to the commercial development of the Aphrodite gas field.
The Fiscal Regime Agreement (FRA) will address the project’s fiscal and financial framework. The Gas Sales and Purchase Agreement (GSPA) will set out the terms for selling and purchasing the gas, while the Gas Transportation Agreement (GTA) will cover its transportation.
Together, these agreements are expected to clarify important economic and commercial aspects of moving Cypriot natural gas to market.
However, signing them would not automatically mean that a final investment decision has been taken. That remains a separate stage before the project can proceed to full development.
280km subsea pipeline planned
The current plan envisages connecting the Aphrodite gas field to Egypt through an approximately 280-kilometre subsea pipeline.
Under the proposed arrangement, natural gas extracted from the Cypriot field would be transported to Egyptian facilities for processing. It could then be exported to international markets using Egypt’s existing liquefied natural gas (LNG) infrastructure.
The plan would provide a route for bringing Cyprus’ offshore gas to international buyers by using existing processing and export facilities in Egypt.
Earlier in October, Egyptian Petroleum Minister Karim Badawi met senior Chevron executives in Athens to discuss the final steps towards connecting the field to Egypt’s energy infrastructure.
MOC 2026 brings together energy industry leaders
The Mediterranean Offshore Conference and Exhibition will be inaugurated on 20 October by Egypt’s petroleum minister.
The event is expected to bring together more than 28 Egyptian and international companies, government officials and representatives of the energy industry.
The anticipated agreements mark an important step in efforts to commercialise the Aphrodite gas field, although a final investment decision will still be required before full development can proceed.
Also read: GSI awaits Greek NAVTEX, Cyprus to release €25 million
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