The Minister of Investments and International Cooperation, Sahar Nasr, signed an investment agreement worth $200 million with the European Bank for Reconstruction and Development (EBRD), Egypt Oil & Gas reports.

The agreement is to support the energy-efficiency project of the Egyptian Natural Gas Holding Company (EGAS).

The project aims to improve the efficiency of Egypt’s natural gas pipelines and infrastructure. It is being implemented by EGAS and the Egyptian Natural Gas Company (GACO), according to Nasr.

Representatives from the Ministry of Petroleum and Mineral Resources attended the signing ceremony.