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AP National

Cyprus, Israel working on deal for natural gas pipeline, processing plant in Cyprus

KIFI
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Published 6:00 AM

By MENELAOS HADJICOSTIS
Associated Press

NICOSIA, Cyprus (AP) — The Cypriot energy minister says Cyprus and Israel are working on a deal to build a pipeline that will take natural gas from both countries to the eastern Mediterranean island nation, where it will be liquefied for export by ship to Europe and potentially elsewhere. Minister Giorgos Papanastasiou said Monday he would soon visit Israel to hammer out a formal agreement. Once the deal is signed, the pipeline could be completed in 18 months. So far, five sizeable gas deposits have been discovered off Cyprus’ southern coastline. Israel has 11 such fields: the biggest, named Leviathan, contains an estimated 22 trillion cubic feet of gas.

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