Egypt signs $221 million in oil and gas deals
On May 14th, Egypt’s oil ministry signed five new agreements with unnamed foreign companies for oil and gas exploration in the Western Desert, Gulf of Suez, and the Mediterranean’s North Damietta area, the cabinet announced, according to The Arab Weekly plus agencies
The deals are valued at a minimum of $221.23 million.
Meanwhile, Russia and Egypt are in talks to build liquefied natural gas (LNG) terminals in Egypt, according to Russian Industry and Trade Minister Anton Alikhanov. “The work is under way,” he said following a Russian-Egyptian intergovernmental meeting.
The Arab Weekly/ Al Arabiya
Want to chase the pulse of North Africa?
Subscribe to receive our FREE weekly PDF magazine
