By Mariana Somensi
The Executive Committee of the International Gas Union (IGU) held its annual meeting in Cairo under the Chairmanship of David Carroll, IGU President. The meeting took place at the Nile-Ritz Carlton on April 19th, with the honorable presence of the Egyptian Minister of Petroleum and Mineral Resources, H.E. Eng. Tarek El Molla.
The meeting was organized by the Egyptian Gas Association (EGA) – a member of the IGU – and promoted discussions on the developments, changes, and challenges of the international gas market and natural gas’ global supply. Attendees also finalized the arrangements for the World Gas Conference, which will be held in Washington, US, from June 25th to June 29th, 2018.
During the meeting, El Molla delivered a speech in which he noted that, although the need to invest in a new sustainable energy mix and develop more clean energy sources increases, natural gas will continue to play a key role alongside renewable energy in helping to meet the expected increase in energy requirements worldwide.
The minister added that natural gas represents more than 75% of Egypt’s total petroleum reserves, making it the primary source of energy to meet a large part of the domestic demand. He further highlighted that the success of massive gas projects in Egypt has lead the country to expect self-sufficiency in natural gas by the end of 2018.
“The Egyptian oil and gas sector is a top priority as the national strategic engine that drives Egypt’s economic development forward. Accordingly, we developed a clear integrated vision to continue on this success and guarantee a sustainable bright future for Egypt,” he stated.
David Carroll praised Egypt’s gas industry for the significant developments that put Egypt on the right path towards a brighter future. He pointed out that the unprecedented success achieved in the Zohr field is a conclusive evidence of Egypt’s ability to successfully execute mega oil and gas projects with high efficiency in a record time.
The development processes in the Eastern Mediterranean represent huge opportunities for the countries of the region to provide their local economies with the necessary fuel, improve their living standards, and be a catalyst for regional stability, as Carroll stated.
The IGU is a worldwide non-profit organization registered in Vevey, Switzerland. Its secretariat is currently based in Barcelona, Spain. The Union’s mission is to advocate gas as an integral part of a sustainable global energy system and to promote the political, technical, and economic progress of the gas industry. It currently has 90 Charter Members, 12 Premium Associate Members, and 60 Associate Members in 90 countries, covering the complete value of the gas chain.