CAIRO, March 30 (Xinhua) -- Egypt and Cyprus signed a natural gas cooperation framework on Monday as Cairo faces growing energy shortages linked to regional conflict, prompting emergency consumption cuts that highlight a deepening supply crisis.
Petroleum Minister Karim Badawy and Cypriot Energy Minister Michael Damianos signed the agreement on the sidelines of the Egypt Energy Show (EGYPES 2026) conference in New Cairo, in the presence of Egyptian President Abdel-Fattah al-Sisi and Cypriot President Nikos Christodoulides.
The signing came days after Egypt introduced emergency measures to curb energy use, including shorter business hours and reduced street lighting, as global pressures tied to regional conflict strained domestic supplies.
Addressing the conference, the Egyptian president warned that the war involving Iran was delivering dual shocks to global energy markets by constricting supply and driving up prices. He said that higher costs for fuel, fertilizer, and agricultural commodities would hit developing countries hardest.
"Any halt or freeze in energy activities requires years for production to return to normal levels," Sisi said.
Joint U.S.-Israeli strikes on Iran that began on Feb. 28 triggered retaliatory Iranian missile and drone attacks on Israeli and U.S. assets across the Middle East, disrupting energy flows and pushing prices higher.
The new agreement between the two sides builds on deals signed in 2025, allowing Egypt to receive gas from Cyprus' offshore fields, liquefy it at Egyptian facilities, and re-export it to Europe. Sisi said the countries are working to integrate Cypriot production into global markets and link it to Egypt's liquefaction infrastructure.
Christodoulides welcomed the agreement, calling energy "a central pillar" of ties between Egypt and the European Union, particularly under current regional pressures.
Both leaders, meeting before the conference, stressed the need to halt regional escalation and prioritize diplomacy. ■
