Rome: Cyprus is aiming to initiate the sale of natural gas to Europe through Egypt by the year 2027. This strategic plan was revealed during discussions between Cyprus and the Italian energy company ENI, as reported by government sources. The discussions took place in the context of President Nikos Christodoulides' meeting with ENI's Chief Executive Officer, Claudio Descalzi, in Rome.
According to Cyprus News Agency, President Christodoulides and Descalzi held a two-hour meeting on Friday morning, where they agreed on a framework for further negotiations. Legal teams from both sides participated in the meeting, and a videoconference was scheduled for later in the day to finalize the discussions. The purpose of the videoconference was to ensure that all outstanding issues were addressed, allowing the parties to move forward.
The goal of these negotiations is to conclude consultations and sign an agreement by March 31, during a natural gas forum in Egypt. This would enable the submission of the development plan to the Council of Ministers. If all goes according to plan, Cyprus aims to commence the sale of natural gas to Europe via Egypt in 2027.