The Egyptian Natural Gas Holding Company (EGAS) and the U.S. multinational energy corporation Chevron signed in Cairo on Monday (20/6/2022) a memorandum of understanding (MoU) on the transport, import, liquefaction, and export of liquefied natural gas (LNG) from the East Mediterranean to Europe.
The MoU signed by EGAS’s CEO Magdy Galal, and Chevron’s EastMed Managing Director Jeff Ewing aims to develop the needed infrastructure to transport the available natural gas from the EastMed to Egypt.
Chevron CEO Mike Wirth believes the company’s prospects are improving in the East Mediterranean.
He is also confident that Tel Aviv and Nicosia are moving closer to a reasonable solution to the border delineation for the shared Aphrodite-Ishai gas field.
What are Chevron’s plans if a favorable unitization agreement is reached regarding Aphrodite-Ishai matter?
How will Europe benefit from the agreement?
Tactical Report has prepared a 519-word report to answer these questions and more.