Molla, SNAM CEO discuss turning Egypt into regional gas trade hub

CAIRO - 22 March 2018: Minister of Petroleum Tarek el-Molla Thursday conferred with the CEO of the Italian SNAM Company Marco Alverà on opportunities of cooperation in the coming period in light of the increasing oil activities in Egypt and making use of the company's expertise in implementing an integral program to turn Egypt into a regional hub for trading gas and petroleum.

The meeting was attended by Italy's Ambassador in Cairo Giampaolo Cantini.

"SNAM is specialized in implementing and running the infrastructure of natural gas in Italy and Europe and can play a key role in this project given its expertise, particularly that Egypt has all the basic potentials in terms of infrastructure, trained human cadres and important natural gas discoveries in the Mediterranean, the gas liquefaction in Damietta and Edko and the national gases network that cover the majority of Egypt," Molla said.

The company's CEO reviewed SNAM's fields of work around the world over more than 75 years and the available potentials to enhance cooperation with the Egyptian petroleum sector in the coming period.

He noted the steps and reform measures taken recently in the economic and legislative domains in Egypt, the latest of which was the law on organizing gas market activities, saying this goes in line with the company's vision accumulated through its diverse expertise and strategic partnership with many countries in Europe and elsewhere.

He pointed out to the special attention given to the east Mediterranean region which has witnessed several important gas discoveries in terms of contribution to implementing the infrastructure of gas transfer to the markets.