El Paso to explore LNG opportunities in Egypt
The Huston-based El Paso Global LNG announced that it signed a Memorandum of Understanding (MOU) to work with the Egyptian Natural Gas Holding Company (EGAS) and the Egyptian General Petroleum Corporation (EGPC) to investigate opportunities for El Paso to invest in the natural gas sector in Egypt.
The MOU will allow the parties to cooperate in the exploration, production, gathering, transportation and processing of natural gas and the possible development of a liquefied natural gas (LNG) liquefaction plant in Egypt. The parties will begin various studies into Egypt's natural gas sector immediately.
El Paso Global LNG, a subsidiary of El Paso Corporation, is responsible for the advancement of LNG opportunities, including the development of LNG re-gasification terminals, shipping assets and LNG supply resources worldwide. The El Paso Corporation has core businesses in natural gas production, gathering and processing and transmission, as well as in international project development, energy financing, power generation, LNG transport and receiving and merchant energy services. — (menareport.com)
© 2002 Mena Report (www.menareport.com)