The summit’s objective was to develop a tripartite partnership in various fields including “promoting peace, stability, security and prosperity in the Eastern Mediterranean in all fields (political, economic, trade, culture, tourism)”.
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The transport and logistics of the shipments are currently under discussion between the two countries.
Egyptian Natural Gas Holding Company (Egas) awarded eight licences for gas exploration on 16 April and said it would potentially be offering at least 10 more this year.
The Electricity Ministry would first make available $200m in funds in order to purchase and distribute 400,000 tonnes of mazut fuel oil as part of a strategic reserve for the country’s electricity stations.