On the sidelines of the Sixth Ministerial Meeting of the Eastern Mediterranean Gas Forum (EMGF), Minister of Petroleum and Mineral Resources Tarek El Molla held bilateral talks with his Greek counterpart Konstantinos Skrekas, during which they discussed ways to expand cooperation in the field of oil and gas to achieve mutual benefits for both sides.
As a result of the fruitful discussions, the ministers signed a memorandum of understanding (MoU) to foster bilateral cooperation in the field of natural gas. The MoU has three priority areas for cooperation with the possibility of expansion in the future, including liquefied natural gas trade, exploration and production activities, and the connection of the natural gas pipeline networks in the two countries.
The MoU reflects the keenness of the political leadership of both countries to invest in natural gas resources. These resources have great strategic importance in developing joint relations and ties, which in turn ensures the prosperity, security, and stability of the eastern Mediterranean region.
It should be noted that El Molla also signed a MoU with his Israeli counterpart to discuss the possibility of increasing gas supplies for re-export.