ENEL AND EGAS SIGN COOPERATION AGREEMENT IN THE NATURAL GAS SECTOR

Published on miércoles, 9 abril 2008

  • With this agreement, the group headed by CEO Fulvio Conti and the Egyptian Natural Gas Holding Company (EGAS) forged an alliance to develop activities in the upstream gas sector, in the gas industry and in the Egyptian power generation assets.
  • This agreement lays the foundations for a strategic alliance between Egas, one of the leading and most successful player in the natural gas industry, and Enel, a leading world utility. It will open to Egas the opportunity to reach for the first time the final European markets, and for Enel to enter into the Egyptian gas sector.
  • HE the Minister Sameh Fahmy: ”We warmly welcome the alliance between Egas and Enel. We consider this cooperation an achievement that the Egyptian government sponsors and supports: it will encourage the contribution of Enel, one of world leading utility, to support the further growth of our energy sector and it will open the door to Egas to expand its presence in the international gas market”.
  • Fulvio Conti: ”This agreement with Egas paves the way for a long lasting strategic alliance between two leading players in the natural gas and energy sector. It will allow Enel’s entry in one of the most important gas  producing countries, and shall support Enel’s strategy of diversification of energy sources and vertical integration, from the gas production down to the power generation and distribution and sale of electricity and natural gas to final customers.”

Cairo, 9 April 2008 – Enel SpA and the Egyptian Natural Gas Holding Company (EGAS), today signed a cooperation agreement to develop joint activities in the upstream gas sector, in the natural gas industry  and in the power generation assets of the Egyptian Petroleum sector.

With this agreement, the group headed by CEO Fulvio Conti lays the foundations for Enel’s participation in the Egyptian gas sector for the first time and shall contribute to consolidate its position as a vertically integrated operator, from the production of natural gas to the power generation and distribution and sale of natural gas and electricity.


Egas, for the first time, will have the opportunity to access final markets jointly with Enel, by marketing natural gas in the markets where Enel operates.

HE the Minister Sameh Fahmy commented: ”We warmly welcome the alliance between Egas and Enel. We consider this cooperation an achievement that the Egyptian government sponsors and supports: it will encourage the contribution of Enel, one of world leading utility, to support the further growth of our natural gas sector and it will open the door to Egas to expand its presence in the international gas market”

Enel CEO Fulvio Conti added: “This agreement paves the way for a long lasting strategic alliance between two leading players in the natural gas and energy sector. It will allow Enel’s entry in one of the most important producing countries, and shall support Enel’s strategy of diversification of gas sources and vertical integration, from the gas production down to the power generation and distribution and sale of electricity and natural gas and diversification of natural gas sources.”

Finally, Enel will offer its world class experience to EGAS by assessing opportunities for the improvement and optimization of the efficiency of the power generation assets, by proposing innovative solutions based on leading hedge technologies.        

General | abril, 09 2008

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