Environment and Energy Minister, Theodoros Skylakakis, had a bilateral meeting with the Minister of Petroleum and Mineral Resources of Egypt, Karim Badawi, with whom they signed a MoU, to promote cooperation between Greece and Egypt in the field of Carbon Capture, Utilization and Storage (CCUS).
The signing of the memorandum took place during Skylakakis’ two-day visit to Cairo, on the occasion of the International Energy Exhibition and Conference “EGYPES 2025”.
Efforts for possible development of facilities – storage areas for CCS/CCUS
In the context of the MoU, Greece and Egypt recognized the importance of cooperation to facilitate the exchange of know-how in the field of CCS/CCUS, as well as the need for coordinated efforts for the possible development of facilities – storage areas for CCS/CCUS. A development, which – according to the Ministry of Energy and Climate Change – will contribute to the achievement of climate goals and the energy transition.
Greek-Egyptian High-Level Committee
A bilateral Greek-Egyptian High-Level Committee will be established to oversee the cooperation and support the achievement of the MoU objectives. The Hellenic Hydrocarbon and Energy Resources Management Company S.A. (HHREMC) will coordinate the efforts, facilitating the work of the joint working groups to be established, ensuring compliance with the agreed priorities and timetables.
Meetings with ExxonMobil and Chevron
Skylakakis also met with the President of Chevron’s International Exploration and Production Department, Clay Neff, and the Vice President of ExxonMobil, John Ardill. In the meetings with the representatives of the two giants in the hydrocarbon sector, the prospects for hydrocarbon exploration were discussed, within the framework of existing contracts and recently announced invitations.
Interest from international giants
The minister spoke about the interest from international giants in research in the Greek seas, for the exploitation of hydrocarbons. He also underlined that Greece has over 14GW in RES (wind and photovoltaic, mainly from small investors). In the next 3-4 years it will exceed 20GW, with the largest weight of the investments expected to be made in photovoltaics. Finally, Skylakakis noted that Greece is self-sufficient in terms of electricity and for the first time after two decades, in 2024 it became, to some extent, an exporter.
