Eni, Gastec Sign Fuel Stations Agreement

Eni, Gastec Sign Fuel Stations Agreement

Eni has signed an agreement with the Egyptian International Gas Technology Company (Gastec) to establish several integrated auto service, natural gas and gasoline filling stations, according to a ministry press release published by Youm 7.

The agreement will see Eni’s trademark used on the new filling stations, Egyptian Minister of Petroleum Tarek El Molla said.

The new stations are set to be constructed across the country, especially in Upper Egypt, with an aim to serve natural gas-powered vehicle, Al Ahram reported.

No financial information regarding the deal has been made public.

The agreement was signed by Gastec’s head, Abdel Fattah Farahat, Gastec’s Operations General Manager, Stefano Chesi, and Eni’s Chief Refining & Marketing Officer, Giuseppe Ricci.

The agreement comes as Gastec announced its long-term plans to spend around EGP 600 million to establish 50 integrated stations over the next five years.

The Egyptian firm will build three natural gas filling stations in Beni Suef, Qena and Sharm El Sheikh, Farahat said.

Sarah Samir 3361 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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