Minister of Petroleum and Mineral Resources Tarek El Molla accompanied a number of international and local officials to tour the Damietta LNG complex and production facilities at the onshore treatment plant Zohr field gases in Port Said.
The signing of the two agreements aligns efforts to decarbonize the energy sector in Egypt, within the framework of Egypt's preparation to host COP 27.
Egypt's petroleum exports contributed to the decline in the value of the deficit in the country's trade balance during the first quarter of 2022 to $7.4 billion, down by 33.7% on an annual basis from $11.16 billion in Q1 2021, according to Al-Sharq's calculations.
Egypt enjoys excess capacity to liquefy natural gas, Minister of Petroleum and Mineral Resources, pointing to the possibility of adding new stations if it is confirmed that the quantities produced from the new fields exceed the current liquefaction capacities.
Minister of Petroleum and Mineral Resources Tarek El Molla praised the natural gas tripartite memorandum of understanding MoU between Egypt, the European Union (EU) and Israel, which was signed at the seventh East Mediterranean Gas Form (EMGF) ministerial meeting.Â
Elemental Royalties Corporation and Altus Strategies plc, both of which work in gold mining, announced reaching an agreement to share a merger of equals. The two companies will form the new Elemental Altus Group.
In his opening speech during the seventh ministerial meeting of the East Mediterranean Gas Forum (EMGF), Minister of Petroleum and Mineral Resources Tarek El Molla said that the current changes witnessed by the world demonstrate the significant role of the EMGF in securing energy supplies.
Minister of Petroleum and Mineral Resources Tarek El Molla signed a tripartite memorandum of understanding (MoU) with Karine Elharrar, Israeli Minister of Energy, and Kadri Simson, Commissioner for Energy and Climate of the European Union (EU), in the presence of Ursula von der Leyen, President of the European Commission.
The East Mediterranean Gas Forum (EMGF) held its 7th Ministerial Meeting to discuss important issues and key outcomes of the EMGF initiatives and activities.
Chairman of the Suez Canal Economic Zone Authority (SCZone) Yehia Zaki said that the SCZone will meet with representatives from hydrogen companies whom it signed memoranda of understanding (MoUs) with to implement green hydrogen projects very soon.
