EGAS, Copelouzos Group forge partnership to expand gas operations in Europe

CAIRO – 14 October 2024: The Egyptian Natural Gas Holding Company (EGAS) and Greece’s Copelouzos Group have signed a shareholders’ agreement to establish a joint company headquartered in Greece. The new venture aims to trade, transport, supply, and regasify natural gas across Greece and Eastern European countries, according to a statement by the Ministry of Petroleum and Mineral Resources.

The signing ceremony took place in the presence of Minister of Petroleum and Mineral Resources, Karim Badawi, who emphasized that the agreement opens doors to future cooperation. He underscored the potential for exchanging expertise between Egypt’s petroleum sector and the Greek group to address the energy needs of both nations.

Dimitris Copelouzos, Head of the Greek Group, highlighted the group’s interest in capitalizing on Egypt’s resources, particularly the LNG plants in Damietta and Idku. He expressed optimism about strengthening collaboration with the Egyptian petroleum sector and the new government through upcoming projects.

Yasseen Mohamed, Chairman of EGAS, noted that the agreement had undergone detailed preparation over recent months and marks a significant step toward fostering a deeper partnership between the two parties in the future.