Egypt’s EGAS, Greece’s Copelouzos form JV

By Aya Anwar On Oct 14, 2024

Egyptian Natural Gas Holding Co. (EGAS) and the Greek Copelouzos Group have signed a shareholders' agreement to establish a joint venture based in Greece, on Monday - Cabinet

The Egyptian Natural Gas Holding Co. (EGAS) and the Greek Copelouzos Group signed a shareholders’ agreement on Monday to establish a Greece-based joint venture. This venture will enhance the trade, transport, supply, and regasification of natural gas in Eastern Europe and Greece.

This agreement aligns with Egypt’s strategy to strengthen its position as a regional energy hub, particularly in liquefied natural gas (LNG) trade, by increasing commercial exchanges with Eastern Mediterranean countries.

This partnership follows discussions between President Abdel Fattah El Sisi and the leadership of the Greek group, during which they agreed on several projects, including natural gas supply and marketing in Eastern Europe. Additionally, the agreement marks a significant step towards deepening cooperation and exploring further investment opportunities in the energy sector.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama