Today at the Gazprom export Headquarters Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee met with Ismail Karara, Egypt’s First Deputy Minister of Petroleum.

The parties discussed major directions for cooperation between Gazprom and Egyptian companies in the oil and gas sector. The parties also agreed on concrete steps to intensify work on perspective directions.

Particularly, special attention was paid to issues on investing in the Egypt’s gas sector within the joint work with EGAS on natural gas exploration and production in Egypt, LNG production and deliveries, Egyptian gas export to the Middle East markets, cooperation on the Egypt’s gasification projects as well as the gas industry management.

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Egypt’s proven gas reserves currently make up 1.89 tcm. The length of national gas pipelines is 4.7 thousand km.

At the moment Egyptian gas is exported both as pipeline gas and LNG. Egypt is the world’s fifth largest LNG exporter.

Egypt’s government is the general regulator of the energy sector via the state run Organization for Energy Planning (OEP), Oil Ministry, and Energy Ministry. Several areas of the energy sector are governed by state owned EGPC (Egyptian General Petroleum Corporation) and EGAS (Egyptian Natural Gas Holding Company).

In March 2005, Gazprom and EGAS signed a Memorandum of understanding, which stipulates cooperation in gas exports, manufacture of oil & gas equipment and drilling units as well as associated services.

On April 14, 2005 Cairo has hosted the first meeting of the joint Coordination Committee.

On 5-6 March, 2007 Cairo has hosted a meeting for the Joint Working Groups between representatives of Gazprom and EGAS.