By Nilay Kar Onum

ISTANBUL 

The Greek Cypriot administration and Egypt signed an agreement for the construction of an underwater pipeline to export natural gas from the island to Egypt, Greek media reported on Wednesday.

According to Ekathimerini newspaper, the deal was signed on Wednesday by Greek Cypriot Minister of Energy, Commerce, Industry, and Tourism Yiorgos Lakkotrypis and Egypt’s Oil Minister Tarek El-Molla.

The pipeline will transfer natural gas from the island’s Aphrodite natural gas field to a liquefaction plant at Edku town of Egypt’s Beheira governorate.

The aim of the agreement is to ensure timely and safe development, construction and operation of the underwater pipeline, Lakkotrypis said.

The terms of the deal for the construction of the pipeline will be later discussed between the companies involved in the project.

In order to oversee the project, a joint committee is expected to set up in 30 days.