Petroleum Minister Tarek El-Molla and the EU Commission during their visit to Egypt
CAIRO - 10 April 2022: The Petroleum and Mineral Resources Ministry said that an agreement has been reached with the European Green Deal to form work teams from both sides to promote cooperation in the various energy sectors and prepare for signing memorandums of understanding (MoUs) during the World Climate Summit.
The European Green Deal is a set of policy initiatives by the European Commission with the overarching aim of making Europe climate neutral in 2050.
This came during a meeting held between Petroleum and Mineral Resources Minister Tarek El Molla and Executive Vice President of the European Commission for the European Green Deal and European Commissioner for Climate Action Frans Timmermans along with his accompanying delegation, according to a statement issued by the ministry on Sunday.
The meeting dealt with a host of issues, including cooperation between Egypt and the EU, especially in energy spheres as well as ways related to the process of energy transformation, added the statement.
The African-European Summit which was held last February witnessed intensive meetings with a host of officials in order to prepare initiatives and draw up working plans within the upcoming period, said the minister.
Egypt has the largest natural gas infrastructure in terms of gas transportation and liquefaction facilities, including two cross-border gas pipelines, added the minister.
The minister also underlined the importance of maintaining cooperation and coordination with the European Union (EU) in order to enhance energy security and promote energy diversification.
Timmermans, for his part, affirmed that Egypt is a strategic partner for the EU, pointing out to the close ties binding the two sides in light of Egypt's crucial role in the region and its strategic location.
Egypt is a huge and growing market, he said, noting that there are several opportunities for enhancing cooperation between Egypt and the EU in the various spheres, especially in the fields of gas, electricity and hydrogen.
The EU intends to sign several MoUs with Egypt in the fields of ammonia and hydrogen during the World Climate Summit, which Egypt will host in November, he added.