According to various local news outlets, Egypt and Greece has established a newly formed an Exclusive Economic Zone (EEZ) through the signing of a maritime demarcation deal on Thursday. The signature of the deal, which was announced by Egypt’s Minister of Foreign Affairs Sameh Shoukry, was also highly commended by Greek counterpart Nikos Dendias at a joint press conference. “The deal permits Egypt and Greece to go ahead with maximising benefits from riches available in the exclusive economic zones of both countries, particularly the promising gas and oil reserves,” stated Shoukry according to Al Ahram. The Minister also stressed that the deal would not only improve bilateral ties between the two nations, but also provide more opportunities for cooperation in the field of energy. The latter goal would also be facilitated by the fact that both Egypt and Greece are members of the Eastern Mediterranean Gas Forum (EMGF). EMGF, an international organization which gathers Egypt, Cyprus, Greece, Israel, Italy, Jordan and Palestine in a bid to create a regional gas market, has its headquarters in Cairo. The agreement for the EEZ is the result of a dozen rounds of negotiations…
