During his opening speech at the seventh edition of the Al Ahram Energy Conference, Minister of Petroleum and Mineral Resources Tarek El Molla has reaffirmed that the necessity of achieving energy security as a top priority.
Energy security, he highlighted, is the main engine for economic and social development and depends on the diversity of the energy mix.
He added that Egypt has great capabilities and other resources, such as solar and wind energy.
El Molla noted that Egypt managed to achieve success during the past nine years, by implementing effective economic reform programs supported by ambitious and aware political will.
He added that the petroleum sector is following clear roadmap to achieve its strategic goals without neglecting its responsibility towards climate change and energy transition which is one of the big global challenges.
The sector’s interest and commitment to climate action was clearly demonstrated in its organization of Decarbonization Day for the first time in a climate summit during COP 27.
He also mentioned initiatives and the projects that the Ministry of Petroleum and Mineral Resources (MoPMR) started to implement to reduce carbon emissions from the different oil and gas sites. He added that the implementation of a number of green energy projects announced during COP 27 have also begun.
El Molla also mentioned the issuing of the Sharm El Sheikh Roadmap for Reducing Methane Emissions in light of Egypt’s commitment to the Global Methane Pledge.