EGAS, Greek Copelouzos sign agreement to establish new gas company
Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the signing of a shareholders’ agreement for partnership in a joint company, headquartered in Greece, between the Egyptian Natural Gas Holding Company (EGAS) and the Greek Copelouzos Group, with the aim of trading, transporting, supplying and regasifying gas in Eastern European countries and Greece.
In a statement issued on Monday, the Ministry of Petroleum explained that the agreement is one of the fruits of President Abdel Fattah El-Sisi’s meeting with the head of the Greek Group. During the meeting, both parties also agreed to implement several projects, including the supply and marketing of natural gas in Eastern European countries.
The agreement was signed by the head of the Egyptian Natural Gas Holding Company (EGAS), Yassin Mohamed, and the business development manager of the Copelouzos Group, Panos Moschandreou, in the presence of the head of the Greek group, Dimitris Copelouzos, and the group’s CEO for renewable energy, energy storage and interconnection, Ioannis Karidis.
During his reception of the Greek group delegation, the Minister of Petroleum and Mineral Resources stressed the depth and strength of Egyptian-Greek relations, and that the agreement is the beginning of opportunities to expand cooperation in the future.
The Chairperson of the Greek group stressed his appreciation for the important role that Egypt plays in the region and the great potential it possesses. He expressed the Greek group’s desire to benefit from the potential of the Egyptian petroleum sector, especially the Damietta and Idku gas liquefaction plants. He also expressed his optimism about deepening the partnership with the Egyptian petroleum sector and the new Egyptian government in more future projects.
The Chairperson of EGAS stressed that this agreement has been studied intensively and is a starting point for a strong partnership between the two parties in the future.
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