On the sidelines of the East Mediterranean Gas Forum’s (EMGF) ministerial meeting, a roundtable has been held to discuss how to secure energy resources, especially natural gas, and boost carbon removal efforts.
During the meeting, the speakers affirmed the importance of coordination between all parties and financing associations to provide the necessary needs to establish the needed infrastructure for natural gas, carbon removal, and hydrogen production.
They also highlighted the necessity to achieve balance during the energy transition phase to guarantee energy supplies. During his speech, Minister of Petroleum and Mineral Resources Tarek El Molla stated that the investments in natural gas infrastructures need guarantees and assurances of the ability to implement these projects which require huge investments.
He noted that the memorandum of understanding (MoU) that was signed between Egypt, Israel and the European Union (EU) is a model for more MoUs during the upcoming period.
European Commissioner for Energy Kadri Simson said that the challenges faced by the EU due to the Ukrainian-Russian crisis require regional cooperation and the use of Egypt’s infrastructure.
From her side, the Minister of Environment Yasmine Fouad declared that cooperation is a must to confront the energy transition challenges considering the existence of new technologies in using new and renewable energy. She added that hosting COP 27 summit in Egypt is not an easy decision and that she trusted the partners to discuss how to implement energy transition through identified time plan.