Decarbonization Day was an ideal platform for global organizations, industry stakeholders, and energy companies to discuss and present their commitments, initiatives, and actions to improve the global climate situation, Minister of Petroleum and Mineral Resources Tarek El Molla stated.
El Molla’s comments came as he concluded the activities of Decarbonization Day within the COP27 climate summit with a speech at the closing session, in which he presented a number of important points.
Decarbonization Day, which was held on November 11th, was a wonderful window to present this to the world, and it became clear in the live sessions that both directions must go in parallel together, that is to provide energy for today and the future to solve the problem of achieving energy security, and at the same time at a reasonable price, saving energy is necessary and indispensable to fulfill human aspirations.
Africa is seeking to enter the energy markets to export its resources, and under the right conditions, Africa can develop resources and achieve development and prosperity to achieve the Millennium Development Goals, but Africa will not do this alone, El Molla said. They need partnerships that can help them with technology, technology transfer, and financing mechanisms as means of growth and allow access to global markets, El Molla explained.
Decarbonization of emission-intensive industries must be part of the solution. It is clear that to achieve the goals of lowering temperatures and, accordingly, reducing emissions at all stages of gas production, and in emission-intensive industries, it revolves around workers in the industry, as they possess engineering expertise, technologies, and operational capabilities and develop their operations in a way that it allows to reduce emissions.
Energy efficiency is another important pillar in removing carbon and reducing emissions, and that it has several benefits that include reducing greenhouse gases, achieving significant cost savings, and improving energy security, and that the energy efficiency strategy for the Egyptian oil and gas sector has set a clear vision and a way to achieve sustainability and develop energy efficiency, El Molla noted.