The Gazprom Headquarters hosted a working meeting between Alexander Medvedev, Deputy Chairman of the Company’s Management Committee and Mahmoud Latif, Chairman of the Egyptian Natural Gas Holding Company EGAS.

The Egyptian party expressed its interest in Gazprom’s potential engagement in gas exploration and production projects, as well as in liquefied natural gas production on the territory of Egypt.

The parties confirmed their readiness to cooperate in enhancing the commercial efficiency of exports by applying swap operations LNG/pipeline gas.

In addition, the meeting considered possible cooperation in developing and retrofitting the Egyptian gas infrastructure, supplies of necessary equipment for Egypt’s gas industry, as well as experience exchange and personnel training.

The parties admitted the importance of the companies’ joint efforts within the Gas Exporting Countries Forum activities.

Background:

Egypt’s proven natural gas reserves account for 2.06 tcm. The length of national gas pipelines exceeds 16 thousand km.

At the moment Egyptian gas is exported both as pipeline gas and LNG. Egypt is the world’s eighth largest LNG exporter.

Egypt’s Government regulates the energy sector via the state-run Organization for Energy Planning (OEP), Oil Ministry, and Energy Ministry. Separate areas of the energy sector are governed by state-owned EGPC (Egyptian General Petroleum Corporation) and EGAS (Egyptian Natural Gas Holding Company).