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Egypt envisions energy as tool of regional peace, prosperity: El-Molla

Egypt envisions energy as tool of regional peace, prosperity: El-Molla

Minister of Petroleum Tarek El-Molla said Egypt envisions energy as a tool to achieve development, peace, and prosperity regionally.

On the sidelines of the 2020 Egypt Petroleum Show (EGYPS), El-Molla said Egypt’s call for the establishment of the East Mediterranean Gas Forum aimed at transforming the country into a regional gas centre.

El-Molla emphasised that the Zohr gas field was a milestone in the Egyptian gas leap, not only because of its high production capacity and reserves, but also for the short period (22 months) it took to start production.

Speaking in the EGYPS’ Global Business Leaders session, Equatorial Guinea’s Minister of Mines, Industry and Energy Gabriel Obiang Lima said his country aspired to cooperate with Petrojet to establish petroleum projects in the country.

He added that Equatorial Guinea wanted to build three refineries and aimed at benefiting from Egyptian expertise in the field.

Moreover, Assistant Secretary of State for Energy Resources Francis R. Fannon stressed the importance of energy cooperation for achieving stability in the region, calling on the concerned countries to cooperate instead of competing.

Brendan Bechtel, chairperson and CEO of Bechtel Group, expressed his contentment in participating in launching a new refinery and petrochemical complex in the Suez Canal Economic Zone, as well as participating in development projects in Egypt and Equatorial Guinea.

CEO and President of Apache Corporation John Christmann explained that his company operated in Egypt for 45 years and that they were working to diversify its investment portfolio through oil and gas exploration in new regions in the country. Source: Daily News Egypt

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