The Egyptian Natural Gas Holding Co. (EGAS) signed on Monday a memorandum of understanding with Italy's Snam – a leading gas utility in Europe – to cooperate in the field of comprehensive management of natural gas infrastructure.
memo was inked on the fringe of the EU-Egypt Sustainable Energy
which was launched in Cairo
by Egyptian Minister of Petroleum Tareq El-Mulla and EU Climate
Action and Energy Commissioner Miguel Arias Cañete.
Cañete has said "The EU and Egypt are
strategic partners on energy. The potential for an even closer energy
cooperation between the EU and Egypt
is enormous, and I hope this visit will herald a new phase of closer and more
intense relations amongst us. Egypt
can lead the way of the clean energy transition in the Eastern Mediterranean
and thus contribute to the Paris
climate goals and the worldwide decarbonisation effort. Likewise, Egypt is
becoming an upcoming important gas and electricity hub that can provide energy
security for the EU and for the entire region. There is much to gain in terms
of access to new sources of energy and market opportunities, for European and
Egyptian citizens and businesses alike. The EU stands ready to support Egypt in its
energy market reforms and to boost sustainable energy investment."