The MoU also entails an exchange in experiences and best practices in natural gas extraction, storage, transportation and liquefaction
Minister of Petroleum and Mineral Resources, Tarek El Molla, and Bulgaria’s Minister of Energy Rumen Radev, signed a memorandum of understanding (MoU) for cooperation between Egypt and Bulgaria in the field of natural gas.
The MoU was signed on the sidelines of the inaugural meeting of the Joint Cooperation Committee between Egypt and Bulgaria in the presence of Minister of Foreign Affairs, Sameh Shoukry, Deputy Prime Minister and Minister of Foreign Affairs of Bulgaria, Maria Gabriel, to establish a general framework for enhancing cooperation in natural gas activities, in addition to enhancing bilateral scientific, technical and technological cooperation.
The MoU also entails exchange in experiences and best practices in the field of natural gas extraction, storage, transportation and liquefaction.
The MoU stipulates the establishment of a joint working group of experts and technicians from both sides to expedite the implementation of executive measures for the areas of cooperation stipulated in the memorandum of understanding.
Both ministers discussed cooperation and investment opportunities available in the fields of oil, gas, mining, hydrogen, and green energy.
The Bulgarian Minister reviewed his country's energy mix and its endeavor to increase the percentage of hydrogen's contribution to it in line with the European Union countries' approach to reducing emissions and energy transformation.
Rumen also pointed out Bulgaria’s interest in extending cooperation with Egypt as a gateway to the Eastern Mediterranean region in the field of natural gas and the possibility of cooperation in many other energy fields.
