Brussels, 02/12/2008 (Agence Europe) - On Tuesday 2 December, European Commissioners Benita Ferrero-Waldner (External Relations) and Andris Piebalgs (Energy) and Egyptian Foreign Minister Ahmed Aboul Gheit signed a Memorandum of Understanding enhancing EU-Egypt energy cooperation. The agreement sets out five priorities to cooperation between the two parties: - development of comprehensive Egyptian energy strategy, including institutional capacity building and energy market reform; - establishment of a work programme for a gradual convergence of Egypt's energy markets with the EU; - drawing up a comprehensive policy and relevant projects in the field of energy demand management, energy efficiency and renewable energy sources; - development of energy networks aimed at improving the energy security in the EU and Egypt; and - enhancement of technological, scientific and industrial cooperation.
As a significant oil producer and an emerging supplier of gas (EU's 6th largest gas supplier), Egypt plays a crucial role in exporting liquefied natural gas (LNG) and the transport of oil through the Suez Canal, and is a key transit country between the Middle East, Africa and the EU. The Commission, in the expectation of its future connection to the Nabucco gas pipeline, supports the completion of the Arab Gas Pipeline, which, with its 10 billion cubic metre annual capacity, will link Egypt, Syria and Jordan. The connection with Turkey and Iraq will provide a further transport link towards the EU for Mashtrek gas. Egypt has considerable potential for renewable energy development (wind and sun) and is an active participant in Euro-Mediterranean energy cooperation. (E.H./transl.rt)