The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, met with CEO of Kuwait Petroleum Corporation (KPC), Nizar Al-Adsani, and KPC’s Managing Director, Nabil Al-Bourisli, to discuss joint cooperation and investment opportunities in the Egyptian oil and gas sector, Egypt Oil & Gas reports.
The meeting tackled investment opportunities in Egypt’s national vision to become a regional energy trading hub, El Molla said. The attendees further discussed SUMED expansion project in terms of capacity and maritime ports preparation to be ready to receive large shipments of petroleum products and liquefied natural gas (LNG).
The meeting included reviewing Kuwait’s petroleum investments in Egypt, including the work of Kuwait Foreign Petroleum Exploration Company (KUFEC).
Al-Adsani pointed out that transporting Kuwait crude oil via SUMED pipeline benefits both the Egyptian and Kuwaiti sides, and helps in achieving KPC’s strategy for 2030, which aims at boosting the Kuwaiti crude existence in the European market.