CAIRO - 25 November 2021: Minister of Petroleum and Mineral Resources Tareq el Molla signed a memorandum of understanding with Greek Minister for the Environment and Energy Konstantinos Skrekas to foster bilateral cooperation in natural gas field.
This came on the sidelines of the 6th Ministerial Meeting of the East Mediterranean Gas Forum held in Cairo.
The MoU covers three prioritized areas of cooperation including liquefied natural gas trading, relevant research and exploration activities and the actual linking of both countries' natural gas pipeline networks, with a possibility of expanding these fields in the future, the Petroleum Ministry said in a statement on Thursday.
The agreement also outlines a framework that would encourage energy companies and institutions in both countries to cooperate with each other and start implementing projects on the ground.
The two ministers said signing the MoU comes in light of the political leadership's keenness in both countries to invest in the natural gas resources given their great strategic importance in developing ties, a matter that would guarantee the well-being, security and stability of the East Mediterranean region.
They described the agreement as a key step that would maximize the role of the natural gas in simplifying and securing the global flow of energy, taking into consideration the necessity of reducing emissions.