Egypt is looking to take advantage of the region’s natural gas discoveries by becoming a hub for refining, manufacturing, distribution and transportation of oil and natural gas, Minister of Petroleum Tarek El Molla has said, Egypt Oil & Gas reports.

El Molla’s words came during his speech in the ministerial session titled ‘Reshaping markets and continuing to discuss the world’s energy situation,’ at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

There is a shared benefit of Egypt becoming a regional energy trading hub, El Molla stated, pointing to the economic value of the country’s liquefied natural gas (LNG) infrastructure in re-exporting East Mediterranean gas to Europe.