EGAS Explores Investment Opportunities in Offshore Wind Energy

EGAS Explores Investment Opportunities in Offshore Wind Energy

Samir Elkareish, Vice Chairman for Energy Sustainability at Egyptian Natural Gas Holding Company (EGAS), has affirmed the Ministry of Petroleum and Mineral Resources’ interest in the energy strategy of Egypt 2035 which is under updates until 2040, aiming to expand the use of new and renewable energy and increasing its share in the energy mix.

He said that during a meeting held by EGAS in attendance of petroleum officials to explore investment opportunities in green energy generated from offshore wind farms.

Elkareish added that the ministry intends to optimize energy operation efficiency to rationalize natural gas consumption, which will save more for exports. This will attract also more investments to the Egyptian market and help achieve economic, environmental, and sustainable development.

Additionally, a representative from Sea Split company showcased the framework of cooperation in exploiting offshore wind energy at the Gulf of Suez to generate electricity to be used in oil and gas facilities located in the area.

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