Gas company DEPA Commercial is negotiating an agreement with state-controlled Egyptian gas firm EGAS for LNG supply, just weeks after Greek and Egyptian officials established a joint technical committee as a first step for the development of a Greek-Egyptian electricity grid interconnection.
Energy dealings between the two countries will be discussed at a meeting today in Cairo between Greek energy minister Kostas Skrekas and Egypt’s minister of petroleum and mineral resources Tarek El-Molla. Also, DEPA chief executive Kostas Xirafas will meet with the EGAS administration.
The Greek energy minister is also taking part in today’s 6th EastMed Gas Forum, in Cairo, along with his counterparts from Egypt, France, Israel, Italy, Jordan and the State of Palestine.
An announcement of a Greek-Egyptian gas agreement, following today’s sessions, has not been ruled out.
The prospect, promising DEPA Commercial greater diversity of sources and lower costs for its customers, has acquired greater significance as the EU finds itself embroiled in an intensifying energy crisis.
Greece and Egypt have also established a joint Exclusive Economic Zone, the recent agreement for the development of a Greek-Egyptian electricity grid interconnection emerging as a first step.