EU, Egypt sign energy cooperation agreement

The European Commission and Egypt's foreign affairs minister, Ahmed Aboul Gheit, signed a memorandum of understanding Dec. 2 to enhance energy cooperation between Egypt and the European Union.

Doris Leblond
OGJ Correspondent

PARIS, Dec. 6 -- The European Commission and Egypt's foreign affairs minister, Ahmed Aboul Gheit, signed a memorandum of understanding Dec. 2 to enhance energy cooperation between Egypt and the European Union. The pact would reinforce energy security for both.

Among five priorities are the establishment of a work program to gradually converge Egypt's energy markets with the EU's and the development of energy networks such as the Arab Gas Pipeline, which could transport Egyptian and possibly Iraqi natural gas resources to European countries.

Other areas covered include market reforms, promotion of renewable energy and energy efficiency, and technological and industry cooperation.

"Egypt is the EU's sixth largest natural gas supplier and a key transit country between the Middle East, Africa, and the EU," said EC Commissioner Benita Ferrero-Waldner. "Egypt's commitment to energy reforms is crucial for the creation of a Euro-Mediterranean energy market."

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