Arab Finance: Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, held an expanded discussion session with Matthews Regas, President of the company Erzine Greek, at the Ministry’s headquarters in the new city of El Alamein, in the presence of Nicholas Katcharov, director of the company in Egypt, and Walid Abdullah, director of government and security relations at the company.
The meeting dealt with ways to support and enhance joint cooperation in the petroleum and gas industry, with a focus on expanding the application of carbon capture and storage techniques, in light of the experiences owned by the Greek company, and the consensus between Egypt and Greece in adopting environmental sustainability solutions and reducing carbon emissions.
Minister Karim Badawi stressed that the Egyptian -Greek relations are witnessing a growing strategic development, especially in the fields of energy, explaining that Egypt has succeeded in overcoming major challenges in the sector despite the geopolitical conditions, by intensifying research and exploration activities and implementing incentives to attract more global investments.
He also pointed to the great interest that the state has given to the development of the infrastructure of the gas sector, by diversifying energy sources and providing change ships to ensure that the needs of the local market and the various economic sectors.
For his part, Matthews Regas expressed his appreciation for the climate of political and economic stability in Egypt, which makes it a strategic and attractive destination for investment in the energy sector.
He expressed his happiness in the existing cooperation with Egypt in the company's concession areas for the production of natural gas in the Mediterranean, noting that “Erguine” aspired to expand the scope of partnership with Egypt in carbon capture and storage projects, as well as cooperation in the field of fertilizer production.
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