After his return from Hungary after participating in the Nabucco summit, Eng. Sameh Fahmy, Egyptian Minister of Petroleum, declared that European participant countries in the summit stressed that Egypt had become an important player in the gas industry, and it is expected to increase its role in the future to ensure the supply of clean energy to European countries.

He also noted that Egypt and Iraq are the only countries from the Middle East, which were invited to participate in the summit, stressing the importance of the Arab Gas Pipeline as one of the main arteries of the transfer of gas between the Arab countries at the present stage, and to Europe in the future phases and will have an important role in activating the cooperation between Egypt, Arab and Mediterranean countries.

The minister pointed out that during the summit discussions were to ensure the needs of Nabucco gas pipeline from various sources of financing and difficulties in the global financial crisis identifying that the issues of funding and implementation of the Nabucco gas pipeline should be performed by a new economic and clear vision.

He also highlighted his meeting on the sidelines of the summit with the prime ministers of Hungary and Bulgaria, who expressed their thanks to Egypt and President Mubarak for his support of this important industry in the world, and stressed the importance of Egypt’s role in the Nabucco pipeline, which reflects confidence in the prospects of oil and gas large in Egypt during the coming years.

On the other hand, Fahmy also met with Minister of Petroleum Mr. Djolt Herndi, Chairman of the Hungarian National Petroleum, to discuss the cooperation between Egypt and Hungary in the coming stage, and the available investment opportunities.