Minister of Petroleum and Mineral Resources Tarek El Molla met with UAE Minister of Industry and Advanced Technology Sultan Ahmed Al-Jaber, who is also the President-Designate of COP28, to review bilateral coordination work in preparation for COP28 to be held in the UAE at the end of November.
During the meeting, held on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, the two officials reviewed the initiatives to be raised during the upcoming climate summit, affirming the commitment of national and international oil companies to reduce carbon emissions from oil and gas production. These decarbonization initiatives were initially announced during Decarbonization Day, which the Ministry of Petroleum and Mineral Resources had organized during COP27.
El Molla emphasized that bilateral cooperation in both energy and climate fields is based on their common conviction in the necessity of obtaining a balance between meeting the growing demand for energy and securing sustainable development.
“The upcoming summit provides an opportunity for both countries to build upon the achievements of the Sharm El Sheikh summit in reducing carbon emissions. International oil and gas companies will play a crucial role in finding climate change solutions,” El Molla added.
On his side, Sultan Al-Jaber stressed the significance of COP28 as an opportunity for international oil and gas companies to demonstrate their commitment to being part of the solution. He commended the Egyptian Ministry of Petroleum and Mineral Resources’ efforts in last year’s summit, which marked the first active participation of international companies in the history of climate conferences.
In addition, El Molla’s meeting with Al-Jaber, who is also the CEO of Emirati ADNOC, was a chance to discuss ways to strengthen cooperation between the Egyptian petroleum sector and the Emirati ADNOC in fields of refining. They also explored the potential for the creation of some joint projects in carbon capture, use, and storage (CCUS) technologies.
Last month, ADNOC, in partnership with TotalEnergies, launched three car service and fuel stations in Egypt. In this regard, Minister Al-Jaber expressed ADNOC’s eagerness to work as a major partner in Egypt to enhance integration and cooperation between the two countries.
The meeting was also attended by Alaa El Batal, Chairman of the Egyptian General Petroleum Corporation, and Samir Raslan, Undersecretary for Agreements and Exploration at the Ministry of Petroleum and Mineral Resources.