EGYPS 2022 Draws Roadmap for Africa’s Energy Transition

EGYPS 2022 Draws Roadmap for Africa’s Energy Transition

During his inauguration of the fifth edition of the Egypt Petroleum Show (EGYPS 2022), His Excellency Egyptian President Abdel Fatah El Sisi urged developed countries to provide economic support for Africa’s energy transition and to extend the transitional period for the achievement of its renewable energy objectives.

El Sisi pointed out that Africa is running behind in its energy transition due to historical reasons. “The cost of fulfilling renewable energy commitments to address climate change is substantial. African countries [cannot afford such a cost].” He called for the decisions of the next UN Conference of Parties on Climate Change (COP27) not only to be reasonable and measurable but also to be fair.

EGYPS started on February 14th, taking place over three days at Egypt’s Al Manara International Exhibition Center, under the patronage of the Egyptian President. The fifth edition of the Show is held under the theme “North Africa and the Mediterranean: Delivering Energy Today”.

The Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the importance of cooperation between African countries to achieve their energy goals, stating that “the aspiration of our people must lead us all to join hands to realise their legitimate hopes for economic progress and development.

In a keynote address by Fatih Birol, Executive Director of the International Energy Agency (IEA), Birol referred to the worldwide recognition of Egypt as an important energy player. He delivered what he described as “good news” saying that “in the light of the developments in Egypt, and following the Egyptian government request, I look forward to welcoming Egypt joining the International Energy Agency’s family as an associate member.”

In his speech during the opening, El Molla praised the success of EGYPS’ previous editions, pointing out that EGYPS has made its mark as an important date on the international energy calendar. He also highlighted some of the milestones achieved by the oil and gas sector in the past years, referring to its contribution to the Haya Karima (‘Decent Life’) initiative to ensure sustainable development.

The EGYPS 2022 opening witnessed a Ministerial and Policy Panel Discussion, which  was moderated by Former Emerging Markets Editor at CNN and Professor of Business at NYU Abu Dhabi John Defterios. The distinguished panellists included El Molla; Amani Abou-Zeid, Commissioner of Infrastructure, Energy, ICT and Tourism at the African Union Commission; Aissatou Sophie Gladima, Senegal’s Minister of Petroleum and Energies; Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons at the Republic of Equatorial Guinea; and Chief Timipre Sylva, Nigeria’s Minister of State for Petroleum Resources.

The panel tackled the topic of climate change and energy transition from an African perspective. During the panel, El Molla explained the huge contrast among the 54 African countries as some do not have the ability to effectively exploit their resources, while some lack the infrastructure required for energy transition. Therefore, the minister stressed the importance of unifying efforts with regards to the energy transition in order for Africa to have a voice at the upcoming UN Climate Change Conference 2022 (COP27).

During his opening speech, dmg events CEO Christopher Hudson expressed his delight that the event was “graced by the presence of the president of the Republic of Egypt, H.E. Abdel Fattah El Sisi, highlighting not just the importance of the next three days for the energy sector not only for North Africa and the Mediterranean region, but its importance to the global energy sector and the role that Egypt plays in that sector.”

EGYPS 2022 witnessed the participation of over 450 international and regional exhibiting firms. The exhibition this year featured 25 international oil companies (IOCs), national oil companies (NOCs), and integrated energy companies (IECs), which reflects the growing confidence in Egypt and its significant role in the region. The exhibition also features seven foreign country pavilions displaying innovative technologies and industry solutions.

“The Egypt Petroleum show has become and grown to become a significant annual gathering of energy industry, which connects the international community with speakers, exhibitors, and attendees from over 60 countries this week,” Hudson noted.

 

 

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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