A very tremendous discussion was held over a webinar on July 21 that brought on board diverse experts from the oil and gas industry, which we call the Energy Hub.
The discussion was moderated by the Managing Partner of Links & Gains Law Firm, Mohamed Agamy, who shot several questions that covered most of the challenges, opportunities and the transformation activities in the energy sector.
The talk began with a global view on the oil and gas industry and the pricing impact on cross border transactions. Ayad Ridha, the Partner of LXL-London, explained the market challenges from all possible causes and consequences of the falling oil prices, greeted by consumers and companies dues. The benefits and positive forecasting post covid-19 have also been highlighted.
From another angle, digital transformation was the main theme as Tamer Naser, Director and General Manager of Baker Hughes, talked about the embracing of technology and the current reshaping of the operating landscape. Digital solutions are considered the reap of improved productivity, higher efficiency, and increased cost savings. The oil and gas industry is not a stranger to this and is progressing towards digital maturity. The investments in oil and gas are expected to reach a high peak particularly in those coming days of the new philosophy on technology and sustainable projects.
However, Egypt’s role to be turned into the premier regional energy hub became a tangible goal, and this was the core conversation made by Mohamed Fouad, Managing Partner of Egypt Oil & Gas information Services. In this regard, Fouad shed light on the potential opportunities associated with operational steps to promote Egypt as a regional energy hub under the Modernization Program, launched in 2016. These steps have included the establishment of the Eastern Mediterranean Gas Forum (EMGF).
The webinar was also enriched with the role of renewables in Egypt, including the accomplished and promising projects of solar and wind across Egypt. This discussion was powered by the highly informative Ahmed Gasser, the North Africa Director at GE Renewable Energy. Gasser’s takeaways were mainly focused on the latest development of the electricity sector generated by REN Energy, and how batteries could transform clean energy.
After the entire discussion, the legal insights on the supply chain and procurement challenges was discussed by Hossam Tawfiq, the Counsel and Group Contract Leader of Yokogawa, MEA, who walked through the various challenges that urge a quick response from the legal sector to the energy sector.