Minister of Petroleum and Mineral Resources Tarek El Molla has participated in a panel session titled “The Role of Regional Cooperation as a Catalyst for Policies to Reduce Carbon Emissions and Energy Transition”.

The session organized in the Egyptian Pavilion during the Energy Day at the COP 28 Climate Summit in Dubai was attended by Jordanian Minister of Energy and Mineral Resources Saleh Al-Kharabsheh; Secretary-General of the Eastern Mediterranean Gas Forum (EMGF) Osama Mobarez; Secretary-General of the International Energy Forum (IEF) Joseph McMonigle; and CEO of the Oil and Gas Climate Initiative (OGCI) Pratima Rangarajan. 

During his opening speech, El Molla stressed that climate change is an undeniable reality, considering the inevitable transition to more sustainable energy sources, a goal that could not be achieved but with the cooperation of the different governments, the private sector, and financial institutions to formulate strong frameworks at the regional level to develop innovative solutions that facilitate transition policies.

El Molla reviewed the framework conducted by the EMGF over policies and procedures to reduce emissions from the various stages of the natural gas value chain in the Eastern Mediterranean region, which represents one of the important incentives that support the plans of member states for achieving energy sustainability and security.

The Egyptian minister also stressed that EMGF is now a distinguished regional platform where each member state can share its experience and resources to enhance energy policies and overcome challenges related to infrastructure, financial, and geopolitical issues to accelerate the energy transition process.

He added that the current geopolitical challenges and their impact on the energy industry have demonstrated the necessity of strengthening regional cooperation, concentrating efforts, and establishing partnerships to accelerate the pace of the energy transition and reduce carbon emissions.

The session probed common goals toward enhancing cooperation and future opportunities in the Eastern Mediterranean region.

The participants also reviewed the role of regional cooperation in sharing best practices and technologies and providing financing to combat the effects of climate change.