Egypt. Italy sign MoU on natural gas infrastructure projects



Tue, 24 Apr 2018 - 02:09 GMT


Tue, 24 Apr 2018 - 02:09 GMT

Natural gas pipeline - Reuters

Natural gas pipeline - Reuters

CAIRO – 24 April 2018: The Egyptian Natural Gas Holding Company (EGAS) signed a memorandum of understanding (MoU) with Italian natural gas infrastructure company Snam to cooperate in natural gas infrastructure projects and machinery manufacturing, a statement from the Petroleum Ministry said Tuesday.

Both sides will also study joint regional natural gas projects. The signing was witnessed by Petroleum Minister Tarek el-Molla and EU Commissioner for Climate Action and Energy Miguel Arias Cañete on the sidelines of an EU-Egypt Sustainable Energy Forum that took place on Tuesday in Cairo.

Molla said that the EU is an important partner for Egypt in the energy field, parsing the bloc’s financial and technical support for Egypt to prepare the country’s 2035 sustainable energy strategy.

The EU has also helped in connecting natural gas to the houses of the poorest families and provided financing through the EU’s banks for the projects related to Egypt’s national electricity grid, Molla added.

Cañete said that the EU supports Egypt's efforts to become a regional energy center due to the potentials the country possesses.

Addressing the forum, he said the EU will provide finance and technical support as well as technology and know-how in energy projects to Egypt.

He said that his talks with Egyptian officials focused on cooperation in the field of energy uses and how to turn Egypt into a regional energy center, adding that Egypt's partnership with EU in the energy domain includes carrying out joint projects in the gas and oil areas, according to state news agency MENA.

On Monday, Prime Minister Sherif Ismail witnessed the signature of a MoU for strategic partnership on energy between Egypt and the EU.

Electricity Minister Mohamed Shaker said that the MoU includes a number of aspects, notably cooperation in the energy sector, raising efficiency of local energy and continuing technical support for the electricity sector reforms.

It further stipulates that Egypt and EU will continue updating the country's 2035 sustainable energy strategy, developing existing electricity networks, boosting cross-border trade and strengthening energy linkage between Egypt and neighboring countries.



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