Minister of Petroleum and Mineral Resources Tarek El-Molla discussed opportunities for increasing cooperation in various energy fields with Frans Timmermans — Vice President of the EU Commission for the European Green Deal and Climate Action — and his accompanying delegation on Sunday.
El-Molla confirmed that the African-European summit last February witnessed several fruitful meetings with many officials in preparation for setting action plans to reduce emissions as a part of the Egyptian Development Strategy.
The minister added that Egypt possesses a distinguished infrastructure that includes two factories for liquified natural gas, a large manufacturing base, and distinguished skills of human cadres, as well as the modern technologies that would improve the efficiency of the petroleum sector.
He pointed out that the economic reforms implemented by Egypt contributed strongly to the country relying on new and renewable energies, stressing the importance of cooperation with the EU in this regard.
Meanwhile, Timmermans stressed that Egypt is a strategic partner of the EU, pointing to the bloc’s current direction to diversify its energy sources and speed up efforts of energy transformation and raising energy efficiency.
He also asserted that Egypt is a large and growing market and that the opportunities for expanding cooperation between Egypt and the EU are great in various fields, especially in the fields of gas, electricity, and hydrogen, adding that the EU aims to sign several memoranda of understanding with Egypt in the field of green hydrogen.
