PM: Turning Egypt into energy trading hub national goal

CAIRO - 14 December 2020: The government has set a national goal for turning Egypt into a pivotal hub for energy trading in line with a national project being implemented by the Ministry of Petroleum in this regard through activating the role of the supreme joint committee, formed in 2016 with the aim of making Egypt a regional energy hub, said Prime Minister Mostaf Madbouli on Monday. 

During a speech delivered by Minister of Electricity and Renewable Energy Mohamed Shaker on behalf of Madbouli at the fourth edition of Al Ahram's annual energy conference, the premier pointed out to the technical, economic, social, political and legal benefits of the power linkage projects among states.


Egypt is working tirelessly towards boosting the power linkage projects that play a significant role in enhancing energy security and promoting dependency on renewable energy in the medium and long run, the premier said.


The government seeks to achieve sustainable development, improve citizens’ living standards, enhancing business climate, boosting the share of private sector in infrastructure projects along with propelling the industrial, tourism, mining and agriculture development simultaneously, Madbouli added.


Throughout the past period, Egypt managed to achieve self-sustainability in gas and resumed exportation, Madbouli said, pointing out to the unprecedented and distinguished recent achievements of the petroleum sector in exploration and discovering of oil and gas, the premier said. 


The conference, dubbed Harvest of Reform and Future of Development, tackles the strategy of the energy sector in Egypt, investment opportunities in energy and the development of the petroleum sector in terms of research, exploration, and the refining process.


Minister of Electricity and Renewable Energy Mohamed Shaker, Minister of Petroleum Tarek El Molla, and other leading officials and experts from the energy sector are attending the conference.