ENI CEO renews commitment to strengthening collaboration with Egypt-Cyprus

ENI is renewing its commitment to strengthening collaboration with Egypt and Cyprus, creating new opportunities and contributing to their energy strategy, said ENI’s CEO Claudio Descalzi, in his speech following the signing of the host government agreement between the two countries, on the sidelines of the EGYPES 2025 energy exhibition in Cairo.

Speaking on 17 February, he added that the agreement will enable the rapid development of Kronos field and the use of existing infrastructure in Egypt for gas processing and export, representing a decisive step towards creating an energy hub in the Eastern Mediterranean.

According to the Italian executive, the Mediterranean has always been a bridge between civilisations, enabling trade and progress, adding that today "it is also a key pillar for the energy security of its surrounding nations".

In this context, Egypt has always played a strategic role, and ENI is proud to have been part of this story for over 70 years, working alongside the country to harness its resources and build a sustainable energy future, he continued

He added that in a similar fashion, "Cyprus has become a cornerstone" for the company’s activities in the Eastern Mediterranean, with the bilateral collaboration having led to significant successes, such as the gas discovery in Block 6 with the Kronos field.

“Today we celebrate a concrete milestone, the signing of the host government agreement, which will enable the rapid development of Kronos field and the use of existing infrastructure in Egypt for gas processing and export. This agreement represents a decisive step towards creating an energy hub in the Eastern Mediterranean, leveraging synergies between Egypt and Cyprus”, he stressed.

Descalzi added that the value of this alliance goes beyond energy, since, as he said, at a time when the world is marked by divisions and tensions, “this agreement is tangible proof that cooperation can build bridges and create opportunities.”

“Through the energy sector we attract investment, foster growth and contribute to a sustainable transition. ENI is proud to be part of this journey. We have built strong ties with Mediterranean countries, developed infrastructure, gained deep knowledge of the region and committed ourselves for responsible energy production," he noted.

"The success of this partnership will be measured not only in economic terms, but also in the trust and shared vision we are building together," he said.

"Looking ahead, ENI renews its commitment to strengthening collaboration with Egypt and Cyprus, creating new opportunities and contributing to their energy strategy. Together we can drive progress, innovation and sustainable solutions for the benefit of the region and the entire global energy sector,” concluded Descalzi.

(Source: CNA)