CIS Gaz, one of the most important players in the natural gas industry in Romania, continues the process of expanding and consolidating its presence in Egypt, and signs a Memorandum of Understanding with Town Gas, the largest gas distribution company in Egypt, through that the two companies will explore collaborative business ventures, champion one another’s interests, and undertake comprehensive due diligence for prospective projects.
CIS Gaz participated, between October 9-11, with the support of the Romanian Embassy in Egypt, in extensive discussions with two of the most important Egyptian companies in the energy field, Town Gas and EGAS, which develop complex projects in the public and private energy sector, in areas such as Cairo (New Cairo gas station operated by Town Gas) or Alexandria (Alexandria gas station operated by Town Gas).
Together with EGAS, the national linchpin for Egypt’s natural gas transmission network, several options were analyzed regarding the completion of the Hayah Karima project, a flagship project of the Egyptian government. Notably, within this project’s purview, CIS Gaz is set to provide high-quality equipment, crafted in Romania.
Hayah Karima is a national project carried out by the Egyptian state through which more than 1400 villages will be connected to the natural gas network.
“The center pillar of our long-term strategy is the expansion of our presence in foreign markets, where our expertise can make a difference. Egypt has become a regional gas hub and there is a growing need to develop new energy infrastructure projects. We are happy that we can develop such projects and especially that we can export not only our local know-how, but also products manufactured in Romania,” says Sebastian Calugar, CIS Gaz CEO.