Environment and Energy Minister Thodoros Skylakakis had crucial discussions in Cairo this week with senior executives of the two US companies (ExxonMobil and Chevron) operating in Greece on the prospects for hydrocarbon exploration, and signed a memorandum of cooperation with Egypt in the field of carbon dioxide storage.
Skylakakis had a bilateral meeting with the Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi, with whom they signed an MoU, to promote cooperation between Greece and Egypt in the field of Carbon Capture, Utilization and Storage (CCUS).
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.
Skylakakis participated in a Ministerial Roundtable Discussion on energy security and industrial competitiveness. In the context of this panel, he referred to the initiatives taken by the Greek government, which show that Greece is moving simultaneously in many different directions and effectively towards achieving the goals of the “green” transition, energy security and the reduction of energy prices.
He spoke, among other things, about the electrical interconnection that Greece is “building” with Cyprus and about the procedures aimed at the “green” electrical interconnection with Egypt – which will primarily concern the transfer of wind energy from Egypt.