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Egypt eyes more economic benefits after signing maritime demarcation deal with Greece

Egyptian President Abdel Fattah al-Sisi issued a presidential decree to ratify the historic agreement signed with Greece on the demarcation of maritime borders, which could help further boost Egypt’s ambition to become a major regional energy hub.
Israeli Energy Minister Yuval Steinitz (R), Greece's Energy Minister Kostis Hatzidakis (2nd-R), Egyptian Minister of Petroleum Tarek el-Molla (2nd-L) and Cypriot Energy Minister Yiorgos Lakkotrypis (L) attend the East Mediterranean Gas Forum (EMGF), in Cairo, on January 16, 2020. - Israel began pumping natural gas to Egypt for the first time yesterday under a $15 billion, 15-year deal to liquefy it and re-export it to Europe. It is the first time that Egypt, which in 1979 became the first Arab country to si

Egyptian President Abdel Fattah al-Sisi issued Oct. 10 a presidential decree to ratify the historic agreement signed with Greece on maritime demarcation, which helps establish the exclusive economic zone (EEZ) in addition to boosting cooperation in the energy field and benefit from riches available in the eastern Mediterranean region.

The agreement was inked in Cairo on Aug. 6 between the Egyptian and Greek foreign ministers. Greece approved the agreement of its maritime boundaries with Egypt on Aug. 27.

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