Minister of Petroleum and Mineral Resources Tarek El Molla affirmed that the global efforts and cooperation between different stakeholders created the momentum needed to boost the transition to renewable energy.
He made this statement in a press meeting with the Washington Times during his participation in the CERAWeek Global Forum, which was held in Houston, the US.
The minister pointed out that the Russia-Ukraine war and Europe’s needs for alternative energy sources ensure that fossil fuel will play a key role in the energy market within the coming period.
El Molla further suggested that unifying energy transition efforts and reducing fossil fuel emissions will help in accelerating the energy transition process.
He also highlighted the importance of all parties engaging in discussions on these issues, especially given the role of COP27 in this regard. The minister explained that Egypt is implementing a plan for energy transition, which involves benefiting from fossil fuels and emphasizes natural gas as a clean energy alternative for the energy transition process.