In the ministerial session titled “Ensuring European Energy Security,” Engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources, took part.
Opportunities and Challenges” within the activities of the ADIPEC 2022 conference and exhibition, where visions on how to secure Europe’s energy needs, strategies required to achieve this, and building strong partnerships to find A Safe and Sustainable Future for Energy were discussed in the presence of ministers and officials of the energy sector from the countries of Africa, Asia, Europe, and the Secretary-General of the Eastern Mediterranean Forum.
Al-Mulla stated in his speech that the current state of the world’s energy markets demonstrated the importance of natural gas as a source of energy, citing Egypt’s desire to strengthen cooperation with the United States, the European Union, and the other nations in the region as well as the Egyptian initiative it took four years ago to establish the Eastern Mediterranean gas forum as a dynamic forum for cooperation and integration in the field of energy.
Al-Mulla continued by saying that as natural gas will continue to be relied upon as a dependable and low-carbon energy source, a comprehensive plan for long-term investments in research, exploration, and natural gas production must be in place.
Al-Mulla emphasised the significance of the Memorandum of Understanding (MoU) between Egypt, Israel, and the European Union Commission, which was signed in Cairo last June and aims to maximise the benefits from the liquefaction factories Egypt owns to export the additional amounts of gas from the Israeli gas fields to the benefit of all parties. He also added that cooperation is in the context of The MoU also includes cooperation in the field of renewable energy, as
Al-Mulla emphasised the crucial role that international financial institutions play in supplying various financing sources on facilitated terms, which helps to quickly and maximise the benefit of the development of gas reserves, especially in the eastern Mediterranean region, and will in turn help to close the current gap between supply and demand for energy.
On the margins of the conference “ADIPEC 2022,” the minister of petroleum takes part in the session on European Energy Security Security.
About Author
