Minister of Petroleum and Mineral Resources Tarek El Molla has highlighted Egypt’s key role in energy security and decarbonization, further emphasizing its plans to accelerate the development and production of natural gas from new discoveries.
This came during his participation in a closed dialogue discussion under the title “Accelerating the Formation of Innovative Policies to Achieve Secured and Low Carbon Energy Future” as part of the activities of ADIPEC 2023 in the presence of several petroleum ministers and energy leaders.
El Molla showcased the plans and mechanisms followed by Egypt to overcome the current challenges in securing energy, which balances between the energy transition, emissions reduction and energy security.
In reference to international initiatives, such as the Global Methane Pledge, he added that Egypt looks forward to working and cooperating with all partners to accelerate the implementation of methane emissions reduction projects.
The minister mentioned that Egypt has launched several national initiatives and pledges, most importantly the ministry’s commitment to Nationally Determined Contributions (NDCs) aiming at reducing greenhouse gases by 65% until 2030, according to the ministry’s strategy to support carbon reduction and energy transition.
El Molla also reviewed the procedures and initiatives adopted by Egypt towards achieving sustainability, such as boosting natural gas production to meet local needs and export the surplus, infrastructure development, raising pipelines efficiency and increasing the use of renewable energy, in addition to the success of organizing Decarbonization Day for the first time during COP27.
Moreover, the minister expressed his pleasure for the success COP27, noting that EGYPES 2024 will address mechanisms of sustainable production of oil and gas and carbon transition.