Minister of Petroleum and Mineral Resources Tarek El Molla met with leaders of international energy organizations and financial institutions at Davos to discuss COP 27 preparations, on the sidelines of his participation at the World Economic Forum.
The meetings further discussed ways of cooperation in the field of energy transformation and facing the current challenges witnessed by the economy and energy markets globally.
This comes as El Molla discussed with Roberto Bocca, Head of Shaping the Future of Energy and Materials at the World Economic Forum in Davos, ways to cooperate with the forum, benefit from experiences and exchange views in arranging preparatory sessions for COP 27, and holding round tables and workshops between the two sides in this regard via video conference.
The meeting further touched upon a review of Egypt’s vital role as a regional center for trade and circulation of gas and oil and the developments of the existing cooperation under the umbrella of the Eastern Mediterranean Gas Forum (EMGF).
El Molla also held bilateral talks with Executive Director of the International Energy Agency (IEA), Fatih Birol in which they discussed the developments in global energy markets and their implications for climate and energy, and Egypt’s preparations for organizing COP 27. During the talks, El Molla and Birol highlighted the importance of coordinating efforts internationally to provide investments and financing from financial institutions in the energy transition stage.
El Molla also participated in a workshop on ways to accelerate the energy transition and provide financing for its projects, with the participation of a number of energy ministers and prominent figures in the fields of energy, oil and gas industry and financing institutions, particularly the International Finance Corporation (IFC), a sister organization of the World Bank. The Egyptian minister indicated that the workshop had constructive discussions and an exchange of experiences and practices for the benefit of the participants.