Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and Cyprus’ Minister of Energy, Commerce and Industry George Papanastasiou have signed a host government agreement with energy supermajors Eni and Total Energies for the establishment of a gas hub in the Eastern Mediterranean.

Under the agreement, which was presided over by Egypt’s President Abdel Fattah El-Sisi and Cyprus’ President Nikos Christodoulides, gas from the Cronos Block 6 field, offshore Cyrpus will be transported to the Damietta LNG plant for export to European markets.

This project leverages Egypt’s existing infrastructure, including export facilities, which are a key enabler for developments in the region,” stated Eni CEO Claudio Desclazi.

Boasting an estimated 3 trillion cubic feet of natural gas, Cronos Block 6 is owned by Eni and TotalEnergies with a 50% stake each.