An official from leading French energy multinational ENGIE has said that Egypt can achieve its goals of becoming a regional energy hub, Egypt Oil & Gas reports.

Philip Olivier, CEO of ENGIE’s natural gas division, said that Egypt has the requirements necessary to open its doors to other countries in the region, tap its substantial offshore natural resources, and re-export natural gas to Europe.

Olivier’s comments came during a meeting with Egyptian petroleum minister Tarek El Molla in which they discussed the new gas market law and the opportunities it presents for international energy companies.

El Molla emphasized the importance of collaboration between the two countries, highlighting Egypt’s efforts to attract foreign investment.