ECONOMY

Athens teams up with Cairo on gas supply, infrastructure

athens-teams-up-with-cairo-on-gas-supply-infrastructure

Greece and Egypt agreed on Thursday to expand their cooperation in the supply of liquefied natural gas (LNG) and examine the possibility of constructing a subsea gas pipeline between the two countries, the Greek Energy Ministry said.

Greece, which mainly imports gas from Algeria, Azerbaijan, Russia and Turkey, has been looking to diversify its resources and become an energy hub in Southeastern Europe.

The two sides signed a memorandum of understanding in Cairo on Thursday as a step toward specific agreements between Greek and Egyptian companies, the Greek Energy Ministry said in a statement.

Minister Kostas Skrekas stated that the agreement will “further strengthen the strategic relationship between Greece and Egypt that is… already yielding results.”

Last month, Greece and Egypt agreed on a plan to install an undersea cable linking their electricity grids.

The signing of the agreement was in the context of the 6th Ministerial Meeting of the East Med Gas Forum, which began on Thursday in Cairo with Greece participating.

[Reuters, AMNA]