Today Alexey Miller, Chairman of the Gazprom Management Committee, paid a visit to Egypt.

Within the visit Alexey Miller met with Sameh Samir Fahmi, Minister of Petroleum Industry of Egypt, Rashid Mohammad Rashid, Minister of Trade and Industry of Egypt, Sherif Ismail, Chairman of EGAS.

The parties discussed the prospects of Russian-Egyptian cooperation in the oil & gas sector in the framework of the Memorandum of understanding between Gazprom and EGAS signed in March 2005.

Particularly, the meeting reviewed the issues on Gazprom’s participation in the following projects:

• Oil and gas exploration and production;
• LNG production and supply;
• Gas transportation and distribution systems construction;
• Development of liquefied and gas hydrocarbon deep processing capacities as well as UGS capacities.

One of the perspective directions is the Egyptian gas export to the countries of the Middle East.

The parties agreed to cooperate in the Sci-Tech sector.

Reference:

The proven gas reserves of Egypt are at 1.89 tcm. The country’s total pipeline length is at 4.7 thousand km.

In 2005 Egypt produced 41 bcm of gas, 33 bcm of which were used inside the country and nearly 8 bcm of gas were exported.

At present Egyptian gas is exported as a pipe gas and LNG. Egypt is the fifth largest LNG exporter in the world.

The Egypt’s Government regulates the energy sector through the state Energy Planning Company, Oil Ministry, and Energy Ministry. EGPC (Egyptian General Petroleum Corporation) and EGAS (Egyptian Gas Holding Company) oversee separate directions of the energy sector.

In March 2005 Gazprom and EGAS signed the Memorandum of understanding that stipulates cooperation in the sector of gas export, production of oil & gas equipment as well as drilling rigs and associated services.

On April 14, 2005 Cairo has hosted the first meeting of the joint Coordination Committee.