Cyprus, Egypt lining up to launch new gas pipeline by mid-2018

The Egyptian minister of petroleum Tarek el-Molla announced that the agreement with the European Union to establish a gas pipeline between Egypt and Cyprus will be finalized by mid-year.

Egypt aims to become a regional energy hub, and is seeking further cooperation with the Europe, the minister noted.

Egypt has also agreed to transport crude oil and gas from Iraq, through Jordan, the minister noted.