Egypt's Ambassador to the US Motaz Zahran During the event
Egypt is a critical partner to the US in the efforts to address climate change issues and the energy transition towards green, said David Livingston, senior advisor to the US special presidential envoy for climate at the State Department.
Livingston made his comments during a webinar organised by the US-Egypt Business Council (USEBC) in Washington on Wednesday.
Livingston said Egypt has much to gain from the energy transition for its economy and energy sector, adding that the US has robust relations with Egypt in the field of generating hydrogen power and in power storage.
He pointed out to the priorities that the US working on currently relating to the climate change issue, including getting the US back into the climate action, revealing that the US has doubled its climate finance and tripled its climate adaptation funds as well.
In addition, the US is keen on raising the global ambition on the climate action, with more than 50 percent of the global GDP dedicated to reach zero-carbon goal by 2050.
Meanwhile, Egypt’s Ambassador to the US Motaz Zahran noted that Egypt has ambitious targets regarding the energy transition, citing Benban Solar Park – the biggest in the world– and Egypt’s plan to be generate 20 percent of its power from renewables.
He added that Egypt targets generating about 42 percent of its power from renewable resources by 2025, stressing that the country is well-positioned to be a regional energy hub because of its location and its variety of energy resources.
Acting Secretary-General of the East Mediterranean Gas Forum (EMGF) and Undersecretary at the Ministry of Petroleum and Mineral Resources Osama Mobarez said the EMGF is a model for collaboration despite the ongoing challenges globally.
He highlighted the support the US has paid for the forum since its onset in 2019 in line with the energy strategic dialogue launched between the two countries and the forum's effort to gather the government and the private sector.
“Egypt redefines the concept of energy to be a catalyst for peace in the region instead of being a purpose of war and conflicts. EMGF’s member countries are committed to make the forum a renowned international organisation and to attract international attention. Based on that, a number of leading countries and international institution have become observers to the forum, including the US, EU, and the World Bank,” according to Mobarez.