A $400 million pipeline project designed to transport natural gas from Israel to Cyprus is currently awaiting approval from the governments of both countries. The project, led by gas producer Energean, could see gas flow within 12 months of receiving the green light from the authorities, according to Mathios Rigas, CEO of the company, in an interview in Abu Dhabi on November 4, 2025.
The pipeline, which is expected to have a capacity of 1 billion cubic meters of gas per year, is intended to supply Cyfield’s planned power plant in Cyprus. According to Rigas, it could also serve other energy needs on the island if required. Energean has already signed a letter of intent with Cyfield, a Cypriot industrial group, for natural gas supply, but is still awaiting a response from the Cypriot government.
Project Financing
Although the project could be fully funded by Energean, the CEO stated that partners might be brought in at a later stage to support the initiative. The final decision will depend on the progress of the government approvals, particularly from Cyprus, which has not yet confirmed its official support for the project.
Challenges and Expectations Regarding Other Projects
The pipeline project is just one part of Energean’s ambitions in the region. The company is also awaiting Israeli approval for another gas supply deal to Egypt. This is part of a larger 15-year gas export contract, with a particular focus on the Nitzana pipeline, designed to facilitate exports to Egypt. However, this project is also subject to governmental decisions.
Rigas emphasized that the delay in the approval of the Egypt deal was more about political negotiations between the two governments than a commercial obstacle. According to him, solutions could be found since the required infrastructure is seen as a logical step for the region’s development.
