Egypt has signed four memorandums of understanding (MoUs) and cooperation agreements with international companies, the Minister of Petroleum and Mineral Resources Karim Badawi announced on Monday 21 October at the Mediterranean Offshore Conference (MOC) in Alexandria.
The MOC, which runs from Sunday 20 October to Tuesday 22 October, serves as an important platform for discussing regional energy activities and exploring the Mediterranean’s vast energy potential.
The conference is organized under the patronage of the petroleum ministry, in collaboration with the Society of Petroleum Engineers (SPE).
The signed agreements aim to improve various aspects of energy cooperation, including operational safety, energy efficiency, decarbonization, and natural gas and hydrogen transportation.
One notable agreement was between the Egyptian Natural Gas Holding Company (EGAS) and the Greek company DESFA, focusing on studying carbon capture and storage technologies, processes that involve the collection of carbon dioxide from industrial sites before it enters the atmosphere.
The agreement was signed by Yassin Ahmed, Executive Managing Director of EGAS, and Maria Rita, CEO of DESFA.
This partnership includes the exchange of technical expertise and the exploration of joint investment opportunities, reinforcing Egypt’s position as a regional energy trade hub.
Additionally, the Egyptian Natural Gas Company (GASCO) entered into an MoU with DESFA to enhance collaboration in the transportation of natural gas and hydrogen, as well as in carbon capture and storage.
GASCO also signed a cooperation agreement with the American company BakerRisk, aiming to boost operational safety, energy efficiency, and carbon reduction through shared knowledge and expertise.
Lastly, the Egyptian General Petroleum Corporation (EGPC) signed an MoU with Shell to develop training programs for leaders in health, safety, and environmental practices.
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