Bulgarian Economy and Energy Minister Peter Dimitrov and Egyptian Petroleum Minister Sameh Fahmy signed an intergovernmental Memorandum of Understanding on pursuit of cooperation in the sphere of natural gas at a formal ceremony here on Saturday.

"This Memorandum is particularly important for Bulgaria following the January crisis, it makes it possible for Bulgaria to receive liquefied and compressed gas from Egypt," Dimitrov said.

He explained to journalists that deliveries can go through the terminals in Greece or Turkey, but the volume of the gas, the route and the delivery points have yet to be specified.

Fahmy noted that the Memorandum will also enable Bulgarian and Egyptian companies to cooperate and exchange experience in prospecting for natural gas deposits in both countries.

Source: BTA