NEWS

Greece teams up with Egypt on gas supply, infrastructure

greece-teams-up-with-egypt-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 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 towards specific agreements between Greek and Egyptian companies, the Greek energy ministry said in a statement.

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