Chevron and Egyptian officials are working to speed agreements to connect Cyprus's offshore Aphrodite gas field to Egypt's existing energy infrastructure. The plan calls for a subsea pipeline to carry the gas to Egyptian facilities for processing and liquefaction before it is re-exported to global markets.
The project is part of Chevron's Eastern Mediterranean strategy and supports Egypt's goal of becoming a regional energy hub. Egypt's Minister of Petroleum and Chevron executives recently discussed finalizing the technical, financial and commercial frameworks needed to move the project into implementation.