Today, Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of Gazprom Management Committee and Ezzat Saad, Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt to the Russian Federation.

The parties discussed perspectives for the bi-lateral cooperation in the oil and gas sphere. In particular, they pondered on possible cooperation in the projects for production, transportation, processing, and marketing of hydrocarbons at the territory of Egypt, including LNG production and deliveries.

Ezzat Saad confirmed that the Egyptian authorities are prepared to render an all-embracing support to development of the business cooperation between Gazprom and Egyptian energy companies.

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Proved natural gas resources of Egypt are at 1.76 tcm, the country is ranking third in Africa after Nigeria and Algeria. Its oil resources are at 500 million tons. In the country’s energy balance, the share of natural gas is 42 per cent, oil - 50 per cent, and hydro power - 8 per cent.

The gas industry of Egypt develops quite rapidly. In the recent years production of the natural gas increased two times - up to 31 bcm per year. The International Egyptian Oil Company (IEOC) is the largest natural gas producer in Egypt. The Egyptian Natural Gas Holding Company (EGAS) manages the natural gas industry of Egypt.

In 2003, for the first time in its history, the country began to export the natural gas via the Egypt-Jordan Pipeline. During the autumn of 2004 Egypt put on line the first train of the LNG production plant. The country develops intensively its gas distribution grids.