The Minister of Petroleum and Mineral Resources, Tarek El Molla, has showcased the situation of the petroleum and natural gas industry in Egypt during his participation in the ministerial panel that took place in US, according to a press release.
The ministerial panel was attended by the US Secretary of Energy, Dan Brouillette, and the Israel’s Minister of Energy Yuval Steinitz and was moderated by the Assistant Secretary of State for Energy Resources, Francis Fannon.
During the Panel, El Molla demonstrated the factors that allowed the positive transformation of Egypt from importing country of liquefied gas into a self-sufficient country and exporting as well.
He confirmed that Egypt have managed to facilitate the challenges and prepare the investment climate for the international companies through providing solutions for the problem of accumulated arrears for the foreign partners as well as reviewing the investment models which enhanced investments attraction and accelerate the projects of developing and producing natural gas in addition to achieving huge discoveries such as Zohr Field.
For his part, Brouillette, expressed the US support for the East Mediterranean Gas Forum (EMGF) .
Furthermore, he praised the progress of oil and gas sector in Egypt through the past years, saying that he is looking forward to reinforcing technical and technological cooperation between Egypt and US in the energy field. He also called on US companies to continue investing in the major opportunities in the East Mediterranean.