US Energy Secretary lauds Egypt's efforts to develop energy sector

CAIRO – 26 July 2019: Egypt's President Abdel Fattah al-Sisi met on Thursday with US Energy Secretary Rick Perry, where the latter praised the efforts exerted by Egypt to develop the energy sector, presidential spokesman Bassam Radi said.

Sisi and Perry met on the sidelines of the second ministerial meeting of the East Mediterranean Gas Forum, EMGF. The meeting was also attended by Minister of Petroleum and Mineral Resources Tarek El Molla.

"Perry lauded Egypt’s efforts to enhance the energy sector at the regional and national levels. He noted that the sector became a key engine of growth for the Egyptian economy and contributes significantly to supporting Egypt’s economic potential and to achieving its various development plans," the presidential statement read.

"The US Energy Secretary valued the remarkable contribution of the recent discoveries of gas fields in the Mediterranean in increasing Egypt’s productivity of conventional energy. He added that this became a key element in the future energy market and will contribute to supporting Egypt’s strategy to become a regional energy hub."

"President Sisi underscored the interest Egypt accords to strengthening the bilateral strategic relations with the US across the various aspects, including cooperation in the area of energy and renewable energy."

"President Sisi welcomed the US participation as a guest in the 2nd ministerial meeting of the East Mediterranean Gas Forum. The President confirmed that the forum aims to achieve integration and economic gains for its members, either producers, consumers or transitory countries, ensure energy security, and secure energy resources in the Eastern Mediterranean region. The President asserted that the forum is open for the membership of other countries and international institutions."

"The meeting tackled boosting US investments in the area of search, exploration, refining and petrochemicals in Egypt so as to benefit from Egypt’s strategic location and the existing infrastructure. The discussions also reviewed Egypt’s ongoing efforts to expand new and renewable energy projects as well as its efforts to become a bridge for the transfer of electricity between the region’s countries and European countries within the framework of the electricity interconnection projects with neighboring countries."