Greece, Egypt to expand LNG cooperation

Greece and Egypt are looking to expand their cooperation in the supply of liquefied natural gas (LNG) as part of a deal revealed on Thursday.

The two countries signed a memorandum of understanding on strategic cooperation in the field of natural gas in Cairo, according to a statement by the Greek energy ministry.

Besides LNG supply, the partners plan to work in the field of exploration and production of natural gas, as well as look into the possibility of constructing a subsea gas pipeline between the two countries, the statement said.

Greece imports LNG via DESFA’s import terminal located on the island of Revithoussa.

LNG deliveries to Greece dropped in the January-September period due to lower volumes from the US and Qatar but volumes from Egypt rose 10 percent during the period.

Egypt’s Damietta facility located on the Mediterranean coast, about 60 km northwest of Port Said started exporting LNG again in February this year following a deal between Egypt’s EGPC and EGAS, Eni, and Naturgy.

It stopped operations in 2012 due to declining domestic production, but new finds such as Eni’s giant Zohr field in the East Mediterranean allowed the partners to restart the plant and ship the first cargo in February.

Besides the Damietta LNG facility, Egypt also has the Shell-operated Egyptian LNG facilities, located at Idku.

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