Egypt and Turkey signed an unprecedented natural gas agreement on the sidelines of Egyptian Minister of Petroleum and Mineral Resources Karim Badawy’s visit to Ankara, RT reported on Wednesday.
The agreement between stipulates the deployment of a Turkish vessel to store and regasify Egyptian natural gas for the first time, marking a significant shift in energy cooperation between the two countries.
Turkish Energy Minister Alparslan Bayraktar stated that Turkey’s BOTAŞ Petroleum Pipeline Corporation and the Egyptian Natural Gas Holding Company signed a contract to deploy an FSRU from the BOTAŞ fleet abroad for a periodic mission.
“This flexible and effective model is an important step that contributes to ensuring the security of natural gas supplies to both Turkey and Egypt,” he emphasized.
Ties with Turkey strengthened
Bayraktar and his Egyptian counterpart, Badawy, held a meeting to discuss cooperation between both countries, followed by the signing of two agreements aimed at strengthening energy cooperation – marking the centenary of diplomatic relations between Turkey and Egypt.
The Turkish Minister explained that the first agreement is a memorandum of understanding that consolidates hydrocarbon cooperation and mining on an institutional basis.
It also enhances the exchange of technical expertise and specialized knowledge to launch joint projects in strategic fields, including oil, natural gas, geothermal energy, hydrogen, and vital minerals.
Bayraktar described the second agreement, regarding the operation of the BOTAŞ vessel in Egypt, as a “national achievement,” noting that for the first time, a Turkish vessel of this type will operate abroad.
He added that he is “confident that these steps will open a new page in energy cooperation with Egypt.”
Rising need for imported gas
Egypt has resorted to importing liquefied natural gas recently to meet its domestic needs, with its gas production declining for the first time since 2018, when it announced domestic gas self-sufficiency and began exporting gas.
The government attributed the decline in gas production to regional conditions and the halt in production at several fields – particularly the Zohr field, the largest in the Mediterranean – due to non-payment of dues to foreign partners. R
Recently, the government confirmed that its gas production had begun to recover after the payment of dues and the discovery of new fields.
