Cyprus and Israel Finalizing Agreement for 'Aphrodite-Isai' Gas Field

Cyprus and Israel are in the final stages of formulating an intergovernmental agreement for the management of the 'Aphrodite-Isai' gas field. Sources indicate that the draft agreement, incorporating amendments from the Israeli side, has been sent to Cyprus. An Israeli delegation is expected to arrive in Cyprus in January for intensive negotiations, suggesting that the agreement is nearing completion. This agreement is considered strategically important for both Cyprus and Israel, as it concerns the exploitation of their common energy resources in the Eastern Mediterranean. The intergovernmental agreement will define the terms and procedures for the development and management of the gas field, as well as cooperation between the two countries in the energy sector. The negotiations are at an advanced stage, and both sides are demonstrating political will to reach a mutually beneficial agreement. The completion of the agreement is expected to contribute to strengthening the energy security of Cyprus and Israel, as well as promoting regional cooperation in the energy sector.