Egypt seeks to build strong regional partnerships to export gas to Europe: Minister

MENA , Tuesday 6 Sep 2022

Egyptian Minister of Oil and Mineral Wealth Tarek El Mollah said Egypt is seeking to build strong partnerships and constructive regional cooperation in the field of natural gas to support its role in being a hub for gas supplies from eastern the Mediterranean to the European Union and achieve the optimum economic benefit from the infrastructure and facilities available in the country.

Egypt's Oil minister Tarek El Mollah during the Gastech 2022 meetings. Photo: Ministry's facebook page

The minister's remarks were made during his participation in the 50th edition of exhibition and fair of Gastech 2022, held in Milan, Italy, from September 5 to 8 with the participation of a galaxy of world energy ministers, CEOs of international energy companies, executives as well as energy experts.

Mollah underlined the importance of a three-way memorandum of understanding (MOU) signed in Cairo to carry gas from eastern the Mediterranean to the EU countries via Egypt, adding that this MOU sends a positive message to international companies and gives them a big incentive to accelerate their activities and launch investment projects in Egypt as soon as possible.

He made it clear that Egypt's achievements over the past few years in the natural gas sector has contributed to maximizing the benefits from its available resources and infrastructure in this sector to counter the current global challenges in the energy market, adding that availability of natural gas resources as well as the infrastructure needed for exportation have returns on Egypt as regards the natural gas prices and compensate the rise in oil prices which reached dlrs 100 per barrel.

He also reviewed Egypt's strategies in the energy sector and its recent expansions along with the strategies adopted to increase dependency on new energy production methods such as solar and wind energies.

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