Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the importance of the Eastern Mediterranean’s role in securing growing global energy needs as well as accelerating the development of gas fields and discoveries in the region.
El Molla elaborated that this is especially the case since there is a regulatory framework working on this in cooperation and coordination among member states of the Eastern Mediterranean Gas Forum (EMGF).
During the talks with US Secretary of Energy Jennifer Granholm on the sidelines of the Climate Summit in Sharm El-Sheikh, El Molla pointed out the importance of the initiatives announced, and the agreements signed related to hydrogen and new and renewable energies and the adoption of balance in achieving the energy transition for a transitional period so that new and renewable energies can meet all energy needs.
The two ministers reviewed the position of developing and increasing gas production in the Eastern Mediterranean region, the progress of the work of the EMGF, and its importance in adopting fair rights for all in the region to benefit from its natural resources, as well as a number of issues of joint cooperation in the oil and gas industry, which have become part of the solution. The meeting also discussed the current global challenges and the need for solidarity and cooperation, and holding global and regional gatherings that integrate their efforts to achieve the common good of the planet by preserving the environment, meeting development needs and accommodating the growing demand in light of population increase.
Granholm congratulated Egypt on the successful organization of the conference and its good choice of the wonderful city of Sharm el-Sheikh to host the activities of the summit, which is something to be proud of. She appreciated the role that Egypt plays in the Middle East and Africa, its adoption of fair and balanced calls on various issues, the tangible progress it has achieved in the natural gas industry, and the possibilities it has for increasing gas production and then increasing the surplus for export.
Moreover, Granholm raised the possibility of the EMGF adopting the development of hydrogen production under its umbrella, and she is confident in the forum’s ability to succeed in that.
Granholm pointed to the fruitful cooperation between the two ministries and the opportunities to increase it, especially in the field of liquefied natural gas (LNG), and that the US is implementing new projects to build floating gas tanks and has supply contracts until 2026.
El Molla pointed out the possibility of holding workshops for a team from both sides and sending specialists from the petroleum sector in the LNG industry to learn and study the new technologies of the US Department of Energy regarding floating liquefied gas tanks. He also clarified the status of the Ministry of Petroleum and Mineral Resources projects to reduce emissions and improve energy efficiency.