Egypt strengthens global energy ties with 4 new cooperation agreements

CAIRO – 21 October 2024: During the Mediterranean Offshore Conference (MOC), Minister of Petroleum and Mineral Resources, Karim Bedawi, oversaw the signing of four strategic memorandums of understanding (MoUs) and cooperation agreements between Egypt’s petroleum sector and international companies.

These agreements are designed to enhance collaboration in key areas such as operational safety, energy efficiency, carbon reduction, and the transportation of natural gas and hydrogen. They also focus on carbon capture, storage, and leadership development in health, safety, and environment (HSE).

One of the key agreements was signed between the Egyptian Natural Gas Holding Company (EGAS) and Greece’s DESFA, focusing on the study of carbon capture and storage technologies. Yousri Mohamed Ahmed, Executive Managing Director of EGAS, and Maria Rita, CEO of DESFA, signed the agreement.

GASCO, the Egyptian Natural Gas Company, also partnered with DESFA through an MoU that aims to strengthen cooperation in natural gas and hydrogen transport, carbon capture, and sustainable energy storage between Egypt and Greece.

The MoU facilitates knowledge exchange on gas, hydrogen, and carbon dioxide infrastructure, and opens doors for joint investment opportunities, further positioning Egypt as a regional energy hub.

Another significant MoU was signed between GASCO and US-based BakerRisk, aimed at enhancing cooperation in operational safety, energy efficiency, and carbon reduction. This partnership will include the development of advanced software to support these areas, alongside knowledge sharing and expertise exchange.

The final agreement was signed between the Egyptian General Petroleum Corporation (EGPC) and Shell, focusing on leadership training in health, safety, and environment (HSE) for EGPC-affiliated companies. This training will be conducted in collaboration with Shell Egypt, leveraging its vast experience in global HSE management.

These agreements mark a significant step in Egypt’s efforts to boost energy collaboration on a global scale, while also advancing its leadership in sustainability and safety.