Egypt, Eni sign MoU to renew commitment in North Port Said gas hub

Egypt signed a binding memorandum of intent (MoI) with Italian energy company Eni, reaffirming the company’s commitment to the North Port Said area and strengthening strategic cooperation in the region, the petroleum ministry said Thursday.

The MoI was signed by Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC), and Francesco Gasparri, Eni’s General Manager in Egypt, in the presence of Egypt’s Minister of Petroleum Karim Badawy and Eni’s Deputy General Manager, Mahmoud Abou El Yazid.

The agreement covers the strategic North Port Said – El Gamil Onshore facilities, a key gas processing hub supporting both ongoing and future projects. It outlines the principles for a future work programme and serves as a precursor to subsequent agreements aimed at establishing new investment commitments.

Badawy said the MoI underscores Egypt’s strategic partnership with Eni and strengthens the company’s presence in the Port Said region. “The agreement supports our efforts to provide an attractive investment environment, accelerate exploration and development of untapped resources, and maintain existing facilities critical to production stability,” he said.

The MoI aligns with Egypt’s broader strategy to attract foreign investment in its energy sector, expand gas resource development, and safeguard strategic infrastructure.

Attribution: Amwal Al Ghad English