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Find all the economic and financial information on our Orishas Direct application to download on Play StoreEgypt has crossed a major step in its energy diplomacy by signing, on Monday 5 January, two memoranda of understanding with Syria concerning the export of natural gas intended for the production of electricity. This initiative marks the official launch of energy cooperation between the two countries, according to a press release from Egyptian Ministry of Petroleum and Mineral Resources.
The agreements were concluded in Cairo during a meeting between the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, and a senior Syrian delegation level led by the Deputy Minister of Energy for Business oil companies, Ghiath Diab. They are part of a regional context marked by an intensification of energy exchanges in the Middle East.
The first protocol plans to deliver natural gas to Syria based on Egyptian energy infrastructures, in particular the floating units of regasification and gas transport networks. The objective is to feed Syrian power plants and to contribute to the stabilization of the country's electricity supply. The second agreement aims to cover Syrian needs for petroleum products and to provide technical assistance Egyptian for the rehabilitation of the energy sector.
The discussions have also focused on potential cooperation in the rehabilitation of Syrian gas and oil infrastructure, capitalizing on the technical expertise of Egypt. If the exported volumes and the schedule of implementation has not yet been specified, these memorandums pave the way for in-depth technical and commercial negotiations in the coming years months.
According to the ministry, these agreements are part of the Cairo strategy to strengthen its role as a regional trade hub and the distribution of energy. They come a few days after the signing a similar agreement with Lebanon for the sale of natural gas, and follow a previous partnership with Cyprus concerning the connection from Cypriot gas to Egyptian installations. So many initiatives that confirm Egypt's ambition to establish itself as a central energy player in the eastern Mediterranean.
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