Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that as an investment in its role as a regional center for energy trade and circulation, Egypt helped secure a portion of Europe’s energy needs during the global crisis.
El Molla stated that the current challenges in global energy markets have demonstrated the importance of Egypt’s proactive efforts since 2018 to launch the Eastern Mediterranean Gas Forum and the resulting effective regional integration in accelerating the pace of development and exploitation of gas resources in the region.
El Molla discussed ways to accelerate the pace of cooperation with Deputy Secretary of Energy David Turk during a roundtable meeting in Washington with members of the US-Egypt Business Council and the American Chamber of Commerce.
He emphasized the significance of current partnerships with the American side and American companies in accelerating sustainable development, reducing emissions in the oil and gas industry, and contributing to the localization of its technology in Egypt, in line with the positive transformations presented by COP27 in Egypt. This link was made during the Carbon Removal Day discussions, which included the oil and gas industry as a participant in climate change solutions. The meeting focused on developments in the work of the Eastern Mediterranean Gas Forum, in which the US is an observer member.
The minister went on to say that cooperation and investment partnerships are critical to Egypt’s success in the Eastern Mediterranean region, both in terms of increasing energy supplies and hastening investment in the green transition.
El Molla also met with US Congressmen Thomas Kane and Bill Keating, where they discussed ways to advance cooperation between Egypt and the US in the field of energy, particularly energy transition and carbon removal, as well as Egypt’s current regional role as a center for energy trade and circulation.
He stated that it is critical to accelerate the provision of carbon-reduction technology and applications in order to support Egypt and African countries in their serious efforts in this area.
The minister presented Egypt’s strategy for achieving sustainability, reducing carbon in the energy sector, and investing in green energies such as hydrogen in light of the ingredients that Egypt possesses.
Source : zawya.com