Osama El Bakly, head of the Egyptian Natural Gas Holding Company (EGAS), and Marco Alvera, CEO of Snam, have signed a memorandum of understanding (MoU) that will see the Italian consortium participate in Egypt’s natural gas and manufacturing sectors, Egypt Oil & Gas reports.

The MoU signing took place on the sidelines of the EU-Egypt Sustainable Energy Business Forum, in attendance of Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla.

Egypt also signed a strategic energy partnership MoU with the European Union (EU) on April 23rd, Egypt Oil & Gas reported.

The MoU with the EU will provide new opportunities for cooperation between the two sides and strengthen the long-term strategic partnership, El Molla said during his speech at the forum.

The minister also expressed his hopes that the partnership will help Egypt in its ambitions of becoming a regional energy hub.

The forum was attended by EU Commissioner for Climate Action and Energy Miguel Arias Cañete, who is visiting Egypt from April 22-24, 2018.

Snam is specialized in the implementation and integrated management of natural gas infrastructure in Italy and on the European continent.