Nicosia, Cyprus. All signatures have been obtained for a memorandum of understanding covering the sale of all recoverable natural gas from Cyprus’ Aphrodite field to Egypt’s EGAS, NewMed Energy Management Ltd said on Wednesday. Separately, the Central Bank of Cyprus reported continued growth in digital payments during the second half of 2025.
Aphrodite gas agreement
NewMed said in a statement filed with the Tel Aviv Stock Exchange and addressed to the Israel Securities Authority that the memorandum of understanding was signed on July 22 by the Aphrodite field partners, the Cyprus Hydrocarbons Company and the Egyptian Natural Gas Holding Company (EGAS).
The agreement covers the sale of all quantities of natural gas that can be produced from the Aphrodite field, which is located in Block 12 of Cyprus’ exclusive economic zone.
The parties expect to complete the signing of a Host Government Agreement with the Egyptian government in the coming weeks. The agreement concerns the development of offshore infrastructure to transport natural gas from the Aphrodite field to Egypt.
Non-cash payments
Cyprus recorded the highest share of card payments in the euro area during the second half of 2025, according to a report published by the Central Bank of Cyprus on Wednesday.
The volume of non-cash payments in Cyprus rose 8 per cent year on year to 174 million transactions, while their total value increased 9 per cent to €148 billion.
Across the euro area, the number of non-cash payments increased 7 per cent to 83 billion transactions, while their total value remained broadly unchanged at €118 trillion.
“Cypriots continue to shift towards digital payment methods, with non-cash payment transactions increasing in both volume and value during the second half of 2025,” the CBC said.
The central bank described the payments market as “the engine of the economy,” saying it is shaped by payment methods serving the differing needs of consumers and businesses.
The report was based on data collected from all Cyprus-resident payment service providers, including credit institutions, payment institutions and electronic money institutions, and examined payment volumes, values and broader developments in the country’s payments ecosystem.