EMGF Second Meeting Concludes in Cairo
The Second Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) was held in Cairo on July 24-25, as per the invitation of H.E Eng. Tarek El Molla, the Minister of Petroleum and Mineral Resources.
The Second Ministerial Meeting of the East Mediterranean Gas Forum (EMGF) was held in Cairo on July 24-25, as per the invitation of H.E Eng. Tarek El Molla, the Minister of Petroleum and Mineral Resources.
Benban solar park, which is set to be the biggest in the world, attracted over $2 billion investments.
Egyptian Minister of Petroleum Tarek El Molla met with World Bank (WB) Vice President for Infrastructure, Makhtar Diop, to discuss current developments to Egypt's oil and gas infrastructure.
The World Bank is willing to support Egypt’s project to become a regional energy hub by funding infrastructure and providing technical support.
Egypt’s petroleum minister Tarek El Molla updated the World Bank's senior vice president, Mahmoud Mohieldin, about Egypt's economic situation during a visit to the World Bank's headquarters in Washington DC.
The oil ministry has started the project that aims to connect more houses to the national gas grid.
The World Bank will no longer finance upstream oil and gas projects after 2019.
Egypt's gas flaring is enough to cover 5% of domestic electricity production, Director and Head of Natural Resources at the European Bank for Reconstruction and Development (EBRD), Eric Rasmussen, stated.
Egypt is the 11th country in gas flaring worldwide, Program Manager-Global Gas Flaring Reduction Partnership at the World Bank, Bjorn Hamso, stated, adding that Egypt jumped from the 9th to the 11th place.
The World Bank has provided the Egyptian energy sector with $4 billion in funding.