The eastern Mediterranean region’s natural gas reserves may contribute to preserving Europe’s energy security, according to Tariq Al-Mulla, Egypt’s petroleum minister.
Tariq Al-Mulla mentioned “the need to provide financing from the European Investment Bank and the European Bank for reconstruction for investments in developing these reserves and fully benefiting from them, in a way that ensures investor motivation and the speed of energy supply securing in light of the importance It is acquired by the eastern Mediterranean gas forum for energy transformation” during his participation in the event in the Cypriot capital of Nicosia.
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He explained that “providing financing does not mean commercial financing, but it is a distinct financing on easy conditions from these European Union’s financing institutions,” considering that “this helps to quickly and maximize the benefit from gas reserves.
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The Egyptian minister emphasised that “working in the two tracks should proceed in parallel to secure energy,” adding that “these efforts come in parallel with other important efforts to build a green corridor between the eastern Mediterranean and Europe, focusing on providing hydrogen, electricity, and renewable energies.” ”
Author: “Al-Watan.”
Gas reserves in the eastern Mediterranean can assist maintain European energy security, according to the petroleum minister of Egypt.
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