Cyprus' Aphrodite Signs 15-year Natgas Supply Deal with Egypt

Cyprus' offshore Aphrodite field signed a 15-year deal to sell natural gas to the Egyptian Natural Gas Holding Company, one of the ⁠partners in Aphrodite said on ⁠Thursday.

NewMed Energy said a binding term sheet was signed for ⁠the sale of all of the natural gas quantities recoverable from the Aphrodite reservoir with the national Egyptian gas company.

The term could ⁠be ⁠extended by another five years, Reuters quoted it as saying.

Last month, Egypt and Cyprus signed a framework agreement for cooperation on gas.