The agreement was reportedly made during a meeting between the two leaders on the sidelines of events marking the inauguration of a new Suez Canal waterway, attended by Cyprus Transport minister Marios Demetriades.

The New Suez Canal, as it has been dubbed, cost Egypt some $8bn (€7.3bn). It is part of a larger undertaking to expand trade along the fastest shipping route between Europe and Asia.

Sources from Tsipras’ office told the press that details on the three-way summit would be announced at a subsequent date. His office issued a short statement, saying the meeting with al-Sisi took place in a “particularly friendly climate” and that the two leaders further discussed delineating their countries’ respective maritime zones. They also discussed possible cooperation between the Suez Canal and the port of Piraeus.

Due to broader geo-political reasons, neighbouring Greece and Egypt have yet to define their exclusive economic zones in respect to one another.

The leaders of Cyprus, Greece and Egypt have already held two such summits, the first in Cairo late in 2014, and the second in Nicosia, in April of this year.

Cyprus and Egypt are in talks exploring the possibility of gas cooperation.

Source: Cyprus Mail