As a result of the fruitful cooperation between the Egyptian Petroleum Sector and the International Petroleum and Gas companies and under the umbrella of the stability that prevails in Egypt, a Shareholders Agreement was signed in October 2001 for the establishment of the United Gas Derivatives Company ( UGDC) as an Egyptian joint stock company among the following founder shareholders:
| GASCO | |
|
Established in 1997, GASCO manages , operates and develops the Egyptian gas grid . GASCO has also shared in the development of many national industries that depend on gas as a feedstock: fertilizers, iron, steel and petrochemicals . GASCO owns and operates 2 NGL plants and exports propane product to international markets. |
 |
| BP | |
|
BP Egypt has been a significant part of the Egyptian oil and gas industry for more than 40 years, which is a compelling motivation to create an equally successful future. To date, BP Egypt has been responsible for the production of almost 40 percent of Egypt’s entire oil production and close to 35 percent of domestic gas demand with its partners. |
 |
| ENI | |
|
ENI began activities in the Gulf of Suez in 1953. International Egyptian Oil Company ( IEOC) operates in Egypt through operating companies with EGPC in Petrobel and Agiba, and it is the major partner in the Damietta LNG plant with Union Fenosa. |
 |