During the EGYPES 2025 event, a new collaborative energy pact was formalized between Greece and Egypt, focused on Carbon Capture, Utilization, and Storage (CCUS).
Theodoros Skylakakis, Greece’s Environment and Energy Minister, and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, endorsed a Memorandum of Understanding (MoU), reinforcing the established and varied energy partnership between the two nations.
Aristofanis Stefatos, the chief executive of the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), was also present at the meeting.
Given that HEREMA is the Greek agency responsible for issuing permits for gas and liquid exploration and subterranean storage, including CO2 geological storage, it will have a pivotal function in enacting the terms of the MoU.
This agreement promotes the exchange of specialized knowledge, effective methodologies, and commercial structures, along with the harmonization of Egyptian practices with European regulatory standards in the evolving field of CCS, for the shared advantage of both countries.
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To elaborate, this agreement between Greece and Egypt mandates the creation of cooperative teams. These teams, comprised of experts from Greece’s Ministry of Environment and Energy, HEREMA, and their Egyptian counterparts, will work together.
Their purpose is to develop a comprehensive CCS regulatory structure within Egypt, leveraging Greece’s experience in refining its own national policies for the Prinos CO2 project.
Furthermore, both nations will join forces to pinpoint potential locations within Egypt appropriate for CO2 storage initiatives and examine alternative methods for utilizing captured CO2. Finally, the joint teams will evaluate financial structures and the CCS supply chain to encourage investment in this sector.
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Commenting on the agreement, Minister Skylakakis stated: “Our initiative facilitates the exchange of expertise in this specific sector, while also highlighting the need for coordinated efforts to develop infrastructure-storage facilities for CCS/CCUS; efforts that will significantly contribute to achieving climate targets. The role of HEREMA will be invaluable in implementing the processes and honoring the schedule stipulated in this MOU.”
On behalf of HEREMA, CEO Aristofanis Stefatos, noted: “CCS/CCUS projects are critical in mitigating climate change and supporting hard-to-abate industries to remain competitive. Therefore, the success of our endeavor can protect the competitiveness of the Greek industry, and strategic collaborations such as this are the only way forward.”
