The Egyptian Natural Gas Holding Company (EGAS) and Copelouzos Group have established a joint venture in Greece for trading, supplying, transporting and regasifying natural gas to Eastern Europe.
This agreement comes within the frame of expanding the plan of Egypt to boost its role as regional energy hub especially in liquified natural gas (LNG).
The agreement which was signed by Yassin Mohamed, the Chairman of EGAS, and Panos Moshandro, Business Development Manager at Copelouzos Group.
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi, Dimitris Copelouzos, Chairman of Copelouzos Group; Ioannis Karides, CEO of Copelouzos Group for Renewable Energy, Energy Storage, and Interconnection; and Moataz Atef, Undersecretary of the Ministry for the Technical Office and official spokesperson of the ministry witnessed the signing of the agreement.
During his reception to the delegation, Badawi highlighted the depth and strength of Egyptian-Greek relations and that the agreement is the beginning of opportunities to expand cooperation in the future, pointing to the possibility of exchanging expertise and capabilities between the petroleum sector and Copelouzos Group especially in supplying energy needs for the two countries.
For his part, Copelouzos stressed his appreciation for the important role played by Egypt in the region and the great potential it possesses, which makes it an attractive investment destination, especially for international oil companies, highlighting the Greek group’s desire to benefit from the potentials that the Egyptian petroleum sector have, especially the Damietta and Idku gas liquefaction plants.
He also expressed his optimism about deepening the partnership with the Egyptian petroleum sector and with the Egyptian government in more future projects.
The Chairman of EGAS also confirmed that this agreement has been thoroughly studied and developed over the past period, marking a significant starting point for strengthening the partnership between the two parties in the future.
Source: https://energynewsafrica.com