Egypt and Bulgaria, Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt, alongside Bulgaria’s Minister of Energy, Rumen Radev, inked a memorandum of understanding (MoU) to boost cooperation in the field of natural gas.

The MoU, inked during the inaugural session of the Joint Cooperation Committee between the two nations, witnessed the presence of key dignitaries including Egypt’s Minister of Foreign Affairs, Sameh Shoukry, and Bulgaria’s Deputy Prime Minister and Minister of Foreign Affairs, Maria Gabriel. The primary objective of the agreement is to establish a comprehensive framework for advancing collaboration in natural gas activities, while also fostering bilateral scientific, technical, and technological exchange.

The MoU entails sharing of experiences and best practices in various fields of natural gas, encompassing extraction, storage, transportation, and liquefaction.

Moreover, the agreement entails the formation of a joint working group comprising experts and technicians from both sides, tasked with expediting the execution of operational measures outlined in the memorandum.

During discussions, both ministers delved into the vast array of cooperation and investment prospects available in sectors such as oil, gas, mining, hydrogen, and green energy. Rumen Radev shed light on Bulgaria's ambitious energy agenda, underscoring efforts to augment the role of hydrogen in its energy mix, aligning with the broader objectives of European Union countries aimed at emission reduction and energy transition.

Emphasizing Bulgaria's keen interest in deepening collaboration with Egypt, Radev highlighted Egypt's pivotal role as a gateway to the Eastern Mediterranean region, particularly in the natural gas domain. The dialogue also explored the potential avenues for cooperation across various energy sectors, underscoring the mutual benefits envisaged through enhanced partnership between the two nations.