Italy and Egypt agree on gas venture

South America News.Net
Friday 30th July, 2010

The Italian energy group, ENI, has agreed to aid in the production and transport of oil and gas supplies in Egypt.

the agreement will mean ENI and the two Egyptian state-owned oil companies, EGPC and EGAS, will work together to raise Egypt's profile as a supplier to Middle East and Mediterranean ports.

The joint venture will involve oil and gas upstream activities in Iraq and Gabon for the Italian company.

Egypt will also help ENI acquire rights to transport gas through Egypt and Syria and Lebanon via the Arab Gas Pipeline.

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