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The Lebanese Army has denied social media reports of armed men entering Lebanon and army withdrawals from the Bekaa Valley border areas
Al Mayadeen's correspondent: 62 martyrs as a result of Israeli raids on the Gaza Strip since dawn today, including 28 in Gaza City
Al Mayadeen's correspondent: Four martyrs and wounded after occupation aircraft targeted a house near the Jordanian Hospital in the Tal al-Hawa neighborhood, southwest of Gaza City
Civil Defense in Gaza: An Israeli strike on civilians in central Gaza City resulted in 11 martyrs, including a doctor and a child, and more than 50 others injured
Russian Foreign Ministry: Western media continues to reveal its true nature as a tool in the hands of political elites, intelligence agencies, and the so-called deep state
Al Mayadeen's correspondent: 50 martyrs in Israeli raids on the Gaza Strip since dawn today, including 20 in the al-Nuseirat camp in the central Gaza Strip
Al Mayadeen’s correspondent: The number of martyrs in the al-Samer massacre in central Gaza City has risen to 12, with dozens wounded
The Ofer military court has ruled to extend the detention of journalist Nasser Al-Lahham until next Tuesday
Al Mayadeen's correspondent: Six martyrs and wounded reported following an Israeli airstrike on the al-Samer junction in central Gaza City
Al Mayadeen's correspondent: Occupation aircraft bombed a crowded market near the al-Samer junction in the al-Daraj neighborhood, central Gaza City

Egypt's EGAS, Chevron sign gas export MoU in Eastern Mediterranean

  • By Al Mayadeen English
  • Source: Agencies
  • 20 Jun 2022 20:14
2 Min Read

Egypt's national gas company and US energy giant Chevron sign an MoU for transporting gas from the Eastern Mediterranean.

  • x
  • Chevron's CEO said the company planned to drill the first exploratory well in its concession area in September
    Chevron's CEO said the company planned to drill the first exploratory well in its concession area in September

US energy giant Chevron and the Egyptian Natural Gas Holding Company (EGAS) have signed a memorandum of understanding on their plans to transport gas from the Eastern Mediterranean.

Both companies agreed to cooperate in the fields of gas import, transport, liquefaction, and export, as well as the exploration of opportunities to "maximize its value through liquefaction and resale".

The pact was inked by EGAS chairman Magdy Galal and Chevron Eastern Mediterranean managing director Jeff Ewing.

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Chevron's CEO, Mike Wirth, who met with Egyptian President Abdel Fattah Sisi, said his company plans in September to drill the first exploratory well in its concession area on the Mediterranean and promised to make use of Egypt’s technical and human expertise. 

Last week, a memorandum of understanding to export Israeli gas to Europe was signed by the energy ministers of "Israel", Egypt, and the EU.

The agreement, which was signed at a ceremony in Cairo, comes as Europe is looking for alternative sources of gas to replace Russia, which is currently being bombarded with sanctions by the West amid the war in Ukraine.

The gas will be transferred from "Israel" to Egypt via an existing pipeline, whereupon Egypt will liquefy and re-export it.

Under this agreement, shipments of LNG from Egypt to Europe will increase, but it will probably take a couple of years before the exports can be expanded.

  • Egypt
  • EGAS
  • US oil firm Chevron
  • gas
  • Natural Gas

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