Cyprus's Gas Gift to Egypt: A Lifeline in the Shadows of Europe's Energy Crisis The Mediterranean has long been a hub of energy production, but a new player is set to enter the fray: Cyprus.
As Egypt's domestic gas reserves dwindle, the island nation is poised to become a crucial supplier of liquefied natural gas (LNG), just as Europe scrambles for alternative sources.
Egypt's natural gas production has plummeted 7% in the past year, with domestic consumption outpacing production by over 75 million cubic meters per day.