ExxonMobil and Qatar Energy agree on Cyprus-Egypt gas pipeline

ExxonMobil and QatarEnergy announced that they have signed an agreement with the Cypriot government to declare the commercial viability of offshore gas fields off the coast of Cyprus, aiming to develop natural gas reserves estimated to exceed 8 to 9 trillion cubic feet. Commercial production is expected to commence in 2033. The project includes connecting the fields to Egyptian infrastructure to export the gas via pipeline, as part of the region’s efforts to boost gas supplies to Europe.

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