"Currently, the proposal to build a hydrocarbon terminal in the Suez Canal zone has been looked into the most. The Rosneft company is planning to take part in the project from the Russian side," Fedor Lukashin said in an interview with RIA Novosti.
Russia and Egypt have been increasing cooperation in the energy area. Rosneft signed a framework liquefied natural gas (LNG) delivery agreement with the Egyptian Natural Gas Holding Company (EGAS) in July 2015 and a Master LNG Supply and Purchase Agreement the following month. The first gas delivery took place in May, 2016. The master deal reportedly entails five LNG deliveries.