Minister of Petroleum and Mineral Resources Tarek El Molla has met with the members of the Egyptian-American Business Council and the American Chamber of Commerce in Washington.
This came on the sidelines of the CERAWeek conference held in Houston in the US. During the roundtable, El Molla delivered a speech in which he highlighted Egypt’s efforts to secure part of Europe’s energy needs during the global crisis as an investment for its role as a regional hub for energy trade and transportation.
El Molla explained that the current challenges that are faced by the international market of energy have proven the importance of Egypt’s proactive efforts since 2018 when it launched the East Mediterranean Gas Forum (EMGF), which resulted in effective regional integration. The EMGF was a pivotal catalyst for accelerating the pace of development and exploitation of gas resources in the region.
The roundtable was attended by senior executives from major US companies. The minister added that the cooperation and investment partnership play a remarkable role in the success of Egypt’s efforts in the East Mediterranean region, providing more energy supplies and accelerating the pace of green transition investments.
He noted that Egypt has worked hard since 2016 to implement a comprehensive strategy to reform, develop and modernize the oil and gas sector which made a positive transformation and a great success story, especially in natural gas.