The Ministry of Petroleum and Mineral Resources and the Greek company Chandris (Hellas) Inc., which specializes in maritime transport activities, met with Egyptian officials to discuss the investment opportunities available in the oil sector, particularly in transport shipping and ship bunkering.
The group has expressed a strong desire to increase its activity and investments in Egypt and to develop the liquefied natural gas transport activity following the rise in world oil and gas prices, and the increase in demand. worldwide, particularly in LNG.
Egyptian Minister of Petroleum and Mineral Resources Tarek al-Mulla stressed during his meeting with group chairman John Chandris that Egypt’s success in achieving self-sufficiency in natural gas and l The surplus opens up great prospects for expansion in value-added industries, in addition to strong growth in the liquefied gas trading business.
Mulla noted the growing global demand for natural gas, which many countries now consider the most important fossil fuel and the best transition fuel during their energy transition period.
An initiative launched by the Eastern Mediterranean Gas Forum to refuel ships with LNG is part of the global trend to preserve the environment and reduce emissions, he added.
Chandris meanwhile confirmed that the group is ready to invest in projects to create warehouses for the bunkering of LNG ships at the initiative of the forum.
He underlined the importance of the fruitful partnership with the Egyptian oil sector and commended the level of cooperation with the Egyptian General Petroleum Corporation in the transportation of crude oil.
Chandris said his group has recently bolstered its fleet of vessels with new advanced tankers, aiming to expand into all liquefied natural gas fields and activities.