Helleniq Energy signs deal for procurement of Egyptian crude

Helleniq Energy, one of the largest petro-chemical concerns in southeast Europe, and the state-run Egyptian General Petroleum Corp. (EGPC), on Wednesday signed a bilateral agreement that envisions the supply of crude oil to the former with crude oil pumped in Egypt.

The deal was sealed in Cairo, with the ATHEX-listed refinery group’s CEO and president, Andreas Shiamishis signing the agreement with EGPC president Alaa El Batal, and in the presence of Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla.

No details were released on figures on Wednesday.

The signing ceremony came on the sidelines of the Egyps energy forum, annually held in Cairo under the auspices of influential Egyptian President Abdel Fattah El Sisi.

“Despite the fact that a growth emphasis focuses on cleaner forms of energy, our biggest activity remains petroleum goods, while the guaranteeing of alternative sources of crude oil for Greece’s uninterrupted supply, particularly amid such a fluid market, is a priority,” Shiamishis said.