Egypt, Romania sign MoU on gas transportation

CAIRO – 5 February 2023: Prime Minister Mostafa Madbouli and his Romanian counterpart Nicolae Ciucă on Sunday attended the signing ceremony of a memorandum of understanding on gas transportation between the two countries.

The MoU was inked by the Egyptian Natural Gas Holding Co. (EGAS) and Romania's state-owned Transgaz firm on the sidelines of the Egyptian-Romanian Business Forum, held in Cairo.

It aims to deepen cooperation between Egypt and Romania in projects to develop the infrastructure for transporting natural gas, as well as to exchange knowledge, skills and technical expertise, EGAS Executive Managing Director Magdy Galal said.

The memorandum of understanding also offers an opportunity to forge partnerships between the two parties in projects aimed at diversifying gas supply and transport methods and enhancing energy security, to facilitate the transition to a low-carbon energy system by integrating renewable sources into the energy mix of the two countries, he added.

They also attended the signing ceremony of a memorandum of understanding in the technology and scientific research fields.

The MoU aims to enhance cooperation in the field of exchanging information, skills and researchers, and to support joint science and technology research activities between Egypt and Romania.

As many as 101 Romanian companies are operating in the Egyptian tourism, industrial, and service sectors with investments worth up $104 million, Prime Minster Mostafa Madbouli said.

In his remarks to the Egyptian-Romanian Business Forum here on Sunday, Madbouli added that the two countries continue to make progress in boosting bilateral ties, especially at the trade and investment levels.

He also highlighted the two countries' agreement on many political issues, noting that the first step towards promoting their economic cooperation dates back to 2001 when the two sides inked an agreement to establish a joint business council.

Madbouli urged the Romanian business community to seek more investments in Egypt, making use of the business opportunities created by the government, especially in the healthcare, industrial, and energy sectors.