Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
Astronauts to make quickest trip ever to ISS in DecemberScience & Space September 22, 16:27
MOSCOW, March 26. /ITAR-TASS/. Russia and Egypt have agreed to carry out a project on liquefied natural gas supplies.
“Two projects are rather promising, Russian liquefied natural gas export and Rosatom State Corporation’s participation in building a nuclear power plant in Egypt,” Russian Agriculture Minister Nikolai Fyodorov said.
He spoke at a session of the Russian-Egyptian commission for trade, economic, scientific and technical cooperation on Wednesday.
In 2005 Egypt started exporting liquefied natural gas. Egypt ranks six in liquefied gas exports worldwide. Two LNG plants operate in Egypt. British Gas Group is one of the largest gas producers.
Sakhalin Energy is an operating company for the Sakhalin II project for producing Russian liquefied natural gas. The project will develop the Piltun-Astokhskoye oil field and the Lunskoye natural gas field.
Egypt can sign a free trade zone agreement with the Customs Union, Russia's agriculture minister said.
“We have chances to expand mutual Investments: whether we resume the work on signing free trade zone agreements with the Customs Union or we set up special industrial areas in Egypt,” Nikolai Fyodorov added.
The parameters of the free trade zone agreement with Egypt will be announced in June, he said.
“We will discuss concrete figures and sectors next week upon completion of the elections in Egypt,” Fyodorov said.
Investments can be made to expand Russia’s presence in the automobile industry, export of timber and vegetable oil. Russia seeks to take part in projects related to supplies of grain in Egypt, he said.
The ministers expressed hope that trade turnover between Russia and Egypt doubled within several years.
At present, trade between Russia and Egypt reaches about three billion dollars annually, Fyodorov said.
Egypt seeks to create industrial areas in order to build joint industrial enterprises, Egypt’s Minister of Industry, Trade and Investment Munir Fahri said.
“The signing of a free trade zone agreement with the European Union, Arab countries and East Africa helped us create such productions,” he said.
“Jointly with Russia agricultural equipment can be manufactured for Egypt’s needs and for export,” Fahri said.
The commission’s next meeting will be held in Cairo in June 2014, he said.