Jordan and Egypt have signed an agreement on Saturday to enhance cooperation in the field of gas infrastructure.
The deal entails Egypt utilising a floating storage vessel located at Sheikh Sabah Al-Ahmad Port in Aqaba, Jordan for gas processing.
In return, Jordan will receive liquefied natural gas from Egypt and will, if needed, pump back a portion of the natural gas through existing pipelines between the two countries.
The signing ceremony was attended by Jordanian Energy Minister Saleh Kharabsheh and his Egyptian counterpart Tarek El-Molla.
Kharabsheh highlighted the agreement’s main objective of optimising resource utilisation and reducing costs for both nations.
Under the agreement, Egypt will make use of the Aqaba floating vessel until the end of its lease contract in 2025, as stated by the Jordanian minister.
El-Molla emphasised Egypt’s expertise in various domestic gas applications and expressed a commitment to sharing their experience with Jordan for mutual benefits.
Both ministers stressed the significance of bilateral cooperation in various projects, particularly those focused on energy efficiency, carbon reduction, and addressing global warming, in which natural gas plays a crucial role.