Greece and Egypt signed in Cairo a Memorandum of Understanding with the aim to to promote cooperation between Greece and Egypt in the field of Carbon Capture, Utilization and Storage (CCUS).
In the capital of Egypt, the prospects for hydrocarbon exploration were discussed in meetings held by the the Greek Minister of Environment and Energy, Theodoros Skylakakis, with senior executives of the two US companies (ExxonMobil and Chevron) operating in Greece.
The Greek minister signed the MOU with his Egyptian counterpart, Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi.
Within the framework of the MoU, Greece and Egypt recognize the importance of cooperation to facilitate the exchange of know-how in the field of CCS/CCUS, as well as the need for coordinated efforts for the possible development of facilities – storage areas for CCS/CCUS. Development, which will contribute to the achievement of climate goals and the energy transition.
A bilateral Greek-Egyptian high-level committee will be established to oversee the cooperation and support the achievement of the goals of the MoU.
The Hellenic Hydrocarbon and Energy Resources Management Company (HHREMC) will coordinate the efforts, facilitating the work of the joint working groups to be established, ensuring compliance with the agreed priorities and timetables.
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