Al-Ahram’s Energy Conference commenced the third edition of its annual Energy Conference on December 29, under the patronage of the Prime Minister, Mostafa Madbouly, under the theme ‘Energy, Investment Horizons and Development Opportunities.’
More than a thousand experts and officials attend the two-day convention, in attendance of Tarek El Molla, Minister of Petroleum and Mineral Resources; Mohammed Shaker, Minister of Electricity and Renewable Energy; Osama Heikal, Minister of State for Information Affairs; Mohammed El Assar, Minister of Military Production; Major General Khaled Abdel Aal, the Governor of Cairo; Makram Mohammed Ahmed, Head of the Supreme Council for Media Regulation; and Karam Gabr, Head of National Press Authority.
According to a press release, El Molla asserted that Egypt has made sustainable development its national priority and made plans in accordance with Egypt’s Vision 2030. The results of the ministry’s efforts became clear in its continuous achievements including; implementing 27 projects towards developing gas fields estimated at $27 billion, increasing Egypt’s gas production to 7.2 billion cubic feet of gas per day (bcf/d), achieving self-sufficiency, signing 99 energy agreements with a minimum investment rate of $16 billion, in addition to reducing foreign partners’ arrears to reach an estimate of approximately $900 million.
The minister also confirmed achieving positive and tangible strides towards Egypt’s national project to become a regional gas hub. The minister pointed out the launching of the first global bid in the Red Sea. The winners were announced December 29 as well and were granted a total of 10,000 square kilometers with estimated investments of $326 million which will increase to billions in case of successful explorations.
Abel Mohsen Salama, Al-Ahram’s Managing Director, asserted that the energy future in Egypt is one of the tools to reach sustainable development that reflects Egypt’s ambitions. Salama mentioned in his speech that this year’s convention will open new doors for investment in Egypt, including solar energy, wind energy, and other promising fields. He added that Al-Ahram is keen on having a vital role in supporting the country’s effort to build a new Egypt for its citizens.
Maged Mounir, Al Ahram’s Editor-in-Chief, noted in his commencement speech that president Abd El Fatah El Sisi, has drawn a map of the future with a strong infrastructure that resulted in many achievements, particularly in the energy sector. He added that the oil and gas sector has made unprecedented achievements, and put the energy sector on a global map.