Copelouzos Group has signed a strategic agreement with Egyptian Natural Gas Holding Company (EGAS) for the establishment of a joint venture in Greece, which will manage the marketing, supply, transportation, and replenishment of natural gas reserves in the wider Eastern European region.

For the Egyptian side, this agreement is part of the effort to expand the country's role as a regional energy hub, particularly with regard to LNG.

In the presence of Dimitris Kopelouzos, chairman of the group, and Ioannis Karydas, CEO of the group's renewable energy and energy storage business unit, EGAS chairman Yassin Mohamed and Panos Moshandreou, business development director of the Kopelouzos Group, signed the agreement.

During the ceremony, Egypt's Minister of Petroleum and Minerals, Karim Badawi, who was also present, stressed the depth and strength of Egypt-Greece relations and that the agreement is the beginning of opportunities to expand their cooperation in the future. He also highlighted the possibility of exchanging know-how and capabilities between the country's oil sector and the Copelouzos Group, especially in terms of meeting the energy needs of the two countries.

For his part, Kopelouzos said he was grateful for the important role Egypt has played for the wider region and the great prospects it has, making it an attractive investment destination, primarily for international oil companies. He noted the group's desire to capitalise on the positive prospects of the Egyptian oil sector. He finally said he was optimistic about deepening cooperation with the industry and the Egyptian government in future projects.

The EGAS chairman confirmed that this agreement has been thoroughly examined and carefully developed, so that it is now an important point of reference for strengthening cooperation between the two companies in the future.