A Gazprom delegation chaired by Management Committee Deputy Chairman Alexander Medvedev paid a visit to Egypt.

Within the visit, the Gazprom delegation met with Sameh Samir Fahmi, Egypt’s Petroleum Industry Minister, Hani Suleiman Ali, First Deputy Petroleum Industry Minister (Gas), Sherif Ismail, Chairman of EGAS.

The parties discussed the progress and prospects to develop mutual cooperation in the energy sector as well as confirmed tendency towards further cooperation deepening in said sector.

The parties achieved the accords to:

• examine opportunities for joint participation of Gazprom and EGAS in a regular tender round for hydrocarbon exploration and production in Egypt;
• discuss issues relevant to provision of LNG-pipeline gas swaps.

Additionally, the parties agreed that Gazprom will envisage an opportunity to participate in Egypt’s gasification.

Reference:

The proven gas reserves of Egypt are at 1.89 tcm. The country’s total pipeline length is more than 16 thousand km.

At present Egyptian gas is exported as a pipe gas and LNG. Egypt is the six largest LNG exporter in the world.

The Egypt’s Government regulates the energy sector through the state Energy Planning Company, Oil Ministry, and Energy Ministry. EGPC (Egyptian General Petroleum Corporation) and EGAS (Egyptian Gas Holding Company) oversee separate directions of the energy sector.

In March 2005 Gazprom and EGAS signed the Memorandum of understanding that stipulates cooperation in the sector of gas export, production of oil & gas equipment as well as drilling rigs and associated services.

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