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14 Mar 2019, Gergana Bencheva, EMIS Editor

Cairo’s parliament okays Egypt-Cyprus gas pipeline deal

Cairo’s Parliament has okayed the gas pipeline deal between Egypt and Cyprus signed in September last year, CEEMarketWatch reported. The agreement is expected to enhance gas deliveries to Egypt's liquefied natural gas (LNG) plants in Idku and Damietta.

The contract is also in line with Egypt’s ambition to become a gas hub in the region. According to its government, the country already has a well-developed infrastructure, a strong local demand and a strategic location between Europe and Asia.

Under the terms of the deal, Cairo and Nicosia have the right to halt gas activity in case of any health, safety and environment threat until the issue is resolved, CEEMarketWatch noted.

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