Prime Minister Mostafa Madbouli has witnessed the signing of a framework agreement between the Egyptian Natural Gas Holding Company (EGAS) and Italian oil firm Eni for co-operation in the field of natural gas.
The deal aims at making the optimal use of Egypt’s natural gas reserves by maximising production capabilities in a way that enables EGAS to explore new opportunities to increase production.
It also aims at benefitting from great potentials available in Egypt in the field of oil exploration, especially in the Nile Delta, the Eastern Mediterranean, and the Western Desert.
The framework agreement provides an opportunity to export LNG shipments from the Damietta LNG plant to Italy and other European countries.
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