Germany eyes Cypriot gas, regasification lease deal with Egypt

Germany is exploring the potential purchase of Cypriot natural gas, leveraging a recent agreement that will route the gas to Egypt for liquefaction and export. At the same time, Egypt is considering leasing a German floating regasification unit located at Mukran Port on the Baltic Sea, aiming to bolster its gas import capabilities.

These energy cooperation efforts were discussed during a meeting between Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawy and Philipp Steinberg, director general for Economic Policy at Germany’s Federal Ministry for Economic Affairs and Energy, on the sidelines of CERAWeek 2025, a major energy conference taking place in Houston, Texas, from March 10 to March 14, 2025.

According to a statement from Egypt’s Ministry of Petroleum on Tuesday, an Egyptian delegation will visit Germany later this month to finalise contractual arrangements for using the floating regasification unit.

The discussions also covered expanding cooperation in hydrogen production, leveraging Germany’s expertise and Egypt’s potential in green hydrogen. Additionally, both sides explored collaborations in carbon storage, trade, and regulatory frameworks for carbon markets.

This latest engagement builds on two declarations of intent signed in November 2022 between Egypt’s Ministries of Petroleum and Electricity and Germany’s Ministry for Economic Affairs and Climate Action, which focus on liquefied natural gas (LNG) and green hydrogen development.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser