The Egyptian parliament on Monday ratified an agreement designating an exclusive economic zone in the eastern Mediterranean between Greece and Egypt, an area containing offshore oil and gas reserves, Egyptian state-run newspaper Al Ahram English reported.
Egyptian parliament’s legislative and constitutional affairs committee approved the deal after ensuring it was in line with Egypt’s constitutional and legal systems, it said.
The move arrives amid soaring tensions in the eastern Mediterranean, where a number of countries are vying for the rights to hydrocarbon resources.
Signed by the ministers of foreign affairs of Egypt and Greece in Cairo on 6 August, the deal aims to allow Athens and Cairo to secure maximum benefits from oil and natural gas in the area.
Turkey has said it would not recognise the agreement, claiming it falls in the area of Turkey’s continental shelf and attempts to usurp Libya’s rights.
In November, Ankara and Libya’s Government of National Accord (GNA) signed a maritime agreement to establish an EEZ to legitimise Turkey’s claims to offshore gas and oil reserves in the Eastern Mediterranean, much to the ire of Greece, Egypt and other nations collaborating on a pipeline project of their own off the Cypriot coast.