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Oil & Gas

Egypt, Palestine sign MoU to develop Gaza Marine gas field

Egypt Palestine
Posted: February 24, 2021 at 2:11 pm   /   by   /   comments (0)

Egypt is also set to work with Palestine to develop the Gaza Marine gas field under an MoU EGAS Chairman Magdy Galal signed with Palestine Investment Fund Chairman Mohammed Mustafa yesterday, according to Wafa News Agency. Palestine is one of the founding members of the EastMed Gas Forum.

President Mahmoud Abbas received today Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, in the West Bank city of Ramallah.

During the meeting, a memorandum of understanding was signed between the partner parties in the Gaza Gas Field, where Mohammed Mustafa, Chairman of the Investment Fund Board of Directors, signed for the Palestinian side, while Magdy Jalal, Chairman of the Egyptian Natural Gas Holding Company, signed for the Egyptian side.

President Abbas welcomed the Egyptian delegation, stressing the depth of brotherly relations that bind the two peoples and the great support provided by Egypt under the leadership of President Abdel-Fattah el-Sisi for the Palestinian cause in all fields.

The President said the signing of the memorandum is an important step that came as a continuation of “deep steps between us and Egypt”, extending his thanks to President el-Sisi, who backed this issue, especially the Mediterranean Gas Forum.

He expressed hope that Egypt and Palestine will benefit from their wealth in the Mediterranean.

President Abbas stressed the importance of cooperation between the Palestinian and Egyptian sides in the economic and investment fields as well as benefiting from their natural resources.

He also highlighted the need to exchange expertise in the field of natural gas extraction and to benefit from the Egyptian experience in this field.

For his part, the Egyptian minister emphasized that this visit and the signing of the cooperation protocol between Palestine and Egypt reflects the Egyptian leadership’s interest in strengthening cooperation between the two brotherly countries.

He pointed out that Egypt is keen to do everything necessary to strengthen the Palestinian national economy, expressing his hope that this visit will lead to tangible positive results, whether in terms of strengthening the sovereign rights of the State of Palestine over its natural resources or in terms of strengthening the existing cooperation between the two brotherly countries.

(Source: Wafa News Agency)