Oil & Gas

11 Apr 2022

EU, Egypt to Boost Cooperation on Natural Gas, Cabinet Says

11 Apr 2022  by Bloomberg   

EGYPT - DECEMBER 11: Women observe the Tenaga Satu, a Liquefied Natural Gas (LNG) tanker owned by MISC Berhad, a Malaysian shipping company, as it sails northbound on the Suez Canal in Ismailia, Egypt, on Tuesday, Dec. 11, 2007. Egypt will raise the cost of crossing the Suez Canal by an average of 7.1 percent starting in April to take advantage of an increase in seaborne trade from Asia. (Photo by Dana Smillie/Bloomberg via Getty Images) , Photographer: Bloomberg/Bloomberg

Egypt and the European Union will enhance cooperation in energy, the Egyptian cabinet said after a meeting between Prime Minister Mostafa Madbouly and Frans Timmermans, the EU’s climate chief, in Cairo.

The delegations discussed the potential supply of liquefied gas to Europe through regional partnerships in the short term, and whether the EU will contribute to building a green hydrogen production facility in Egypt to help the country become a production center in the region, according to a statement.

Timmerman affirmed that the EU will work to overcome all obstacles to accelerate the pace of cooperation in this area, the statement said. European countries have been working to shore up alternative supplies of energy following Russia-Ukraine war.

The EU has also committed to helping Egypt access wheat at reasonable prices, according to the cabinet statement. It had earlier decided to allocate 100 million euros ($109 million) to support Egypt’s food security.


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