Oil Minister: Egyptian gas plays an important role in securing part of Europe’s energy needs

Engineer Tarek Al-Marri, Minister of Petroleum and Mineral Resources, affirmed that the Egyptian government’s strategy of creating an attractive investment environment, transforming challenges into investment opportunities and bearing dues from foreign partners helped increase the attractiveness of the petroleum industry to encourage intensification. For research and exploration activities in various onshore and offshore oil areas in Egypt.

Clean energy-based work is in line with international trends, and natural gas is ideal for Egypt. This came during a speech by the Minister of Oil on behalf of President Abdel Fattah El-Sisi, President of the Arab Republic. Egypt, ahead of the Sixth Summit of Heads of State of the Gas Exporters Forum in the Qatari capital, Doha, under the slogan “Gas: Charting the Future of Energy”, was delivered on his behalf by the British engineer, Tarek El Molla, Minister of Gas. Petroleum and mineral wealth.

Full text of the speech: First of all, let me convey the greetings of His Excellency President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, wishing this summit continued success. natural gas resources. I am also pleased to express my gratitude and appreciation to His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, for hosting this important event.

God willing, he will give Egypt unique data and an ancient civilization that spans thousands of years. These gifts come with many challenges. The history of Egypt is full of stories of struggles and victories. The great Egyptian people have always been able to overcome the battle of construction and development to build their beloved homeland.

Economic reform documents are at the top of the government’s agenda, where the state, its agencies and experts can develop a comprehensive strategy and vision, start implementing reform plans and improve the efficiency of state institutions, taking into account social considerations, and achieving the desired justice. and evolution.

The present and its challenges did not distract us from working within the framework of building and developing a vision for the future, paving the way for a better life for future generations. Egypt’s Vision 2030 is a national vision that includes work in all areas of the state, and with determination and determination we begin to implement it, assign the next generation with national responsibilities, complete its steps and stages, and advance the construction of the new Egypt. . The global Covid-19 crisis is a strong test that proves to us that we are on the right path, as Egypt witnessed reforms in various fields, which weakened the impact of its negative impact. In fact, Egypt is able to achieve positive economic growth in the fiscal year 2019/2020, especially in the Middle East and North Africa region, the economic growth of Egypt in the first quarter of the fiscal year 2022/2021 reached the highest level in the past two years. contracts at 9.8%, compared to a growth rate of 0.7% in the first quarter of fiscal year 2021/2020.

It is impossible to achieve the desired development plan in our economic plan without relying on the petroleum sector, the main engine of development, and it is the cornerstone of economic and social development in Egypt, because the oil sector plays a vital role in driving production and production. It provides economic and development projects with the energy they need to operate. The Egyptian government has given priority to business strategies such as creating an attractive investment climate, transforming challenges into investment opportunities, and complying with the dues of foreign partners, thus helping to increase the attractiveness of the oil industry to encourage the promotion of various onshore Egypt, research and exploration activities in offshore oil areas. Natural gas is the best option in Egypt. Over the past seven years, we have been able to accelerate the completion of natural gas development and production projects, especially the main gas fields in the Mediterranean, and put them on the production map, in addition to a scientific approach to the sustainability and improvement of the departmental management system is implemented. We have created many success stories over the past two years despite the Corona pandemic.

In order to achieve the sustainable development goals of the United Nations, especially the seventh goal on the right to clean energy, and in the context of Egypt’s interest in switching to low-carbon energy, the expansion of gas transportation rates to include the expansion of converting cars to gasoline in addition to increasing the number of gas stations, homes continue .

Against the background of Egypt’s transformation into a regional energy hub, Egyptian natural gas plays an important role in protecting part of the energy needs of European countries. The export of surplus natural gas is supplemented by the two natural gas liquefaction stations in Egypt along the Mediterranean coast. In strengthening regional cooperation, and constantly strengthening the strategic partnership, the establishment of the East Mediterranean Gas Forum has made great progress in the past three years, from Egypt’s initiative to the establishment of an international organization. It is located in the Eastern Mediterranean region and is headquartered in Cairo. From national and international institutions such as the European Union and the World Bank, and this reflects the importance of the forum’s role as the first regional cooperation organization on the regional and international scene. Natural gas in the eastern Mediterranean.

Within the framework of the upcoming global climate summit in Sharm El-Sheikh next November, Egypt took the initiative to present a joint African initiative at the Fifth Egyptian International Oil and Gas Conference “EGYPS” last week, taking into account the various African aspects. Finding balanced and realistic solutions to the phenomenon of climate change. climate, and achieving energy transformation without compromising the rights of countries and peoples to benefit from their natural resources, as some African ministers said.

Within the framework of today’s summit, I look forward to working together to develop a joint initiative to maximize the development of natural gas to become greener, to ensure a fair energy transition and allow all countries to benefit from their natural resources, as well as to prepare for the formation of a working group to prepare for the initiative and to discuss the technology and financing needed to achieve it, to review the initiative during the Climate Summit coming in Egypt.

Dear listeners, I believe that natural gas will play a pivotal role in the energy landscape of the future due to its effective contribution in the short and medium term and its positive impact in the long term.

In conclusion, I would like to stress that the countries of the Gas Exporters Forum have the capabilities, resources and capabilities that qualify them to overcome the challenges posed by the current Covid-19 epidemic and move forward in the process of economic integration. It is believed that this forum can contribute to more cooperation between the members of the Forum of Natural Gas Exporting Countries and in various oil fields.

In conclusion, I would like to express my gratitude and appreciation to His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, for the warm reception that does not surprise the brotherly Qatari people. May God help us for the good of our people.

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