Gas exporting to EU agreement an official recognition of Egypt as energy global hub

CAIRO - 19 June 2022: Minister of Petroleum and Mineral Resources Tarek El Molla said that the signing of the cooperation agreement in the field of trade, transport and export of natural gas between Egypt, Israel and the European Union, in the presence of President of the European Commission Ursula von der Leyen is nothing but an official recognition from her that Egypt is a regional hub for gas trading and a global hub at in the field of energy.

 

The agreement will then be an umbrella for a new set of agreements, he said during a telephone conversation with the "A Final Word" program on On E satellite channel Saturday evening.

 

"We have agreements with a number of countries, such as Cyprus, Israel, Lebanon, Jordan and the European Union and, therefore, signing the last memorandum of understanding means opening the door to new agreements that aim to increase and intensify the quantities of gas and increase the number of actors in the process." he said, noting that this would lead to an increase in the number of companies and development in this important and pivotal sector.

 

The agreement is important as it includes countries of the European Union and not a specific European country. "This means that the European Union has considered us as among their primary suppliers," he pointed out.