UAE's Mubadala intends to inject new investments in Egyptian energy field

CAIRO - 1 November 2022: The UAE company, Mubadala, intends to pump new investments in Egypt through implementing projects in fields of liquefied natural gas (LNG), and renewable energy, according to the CEO of the Mubadala Investment Sector, Musabah Al Kaabi.

 

This came during a meeting between the Minister of Petroleum and Mineral Resources, Tarek El Molla, with officials of the UAE Mubadala Company, on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference “ADIPEC 2022”.

 

The Minister of Petroleum reviewed the current aspects of cooperation between the petroleum sector and the UAE company, which participates in the fields of research and production of natural gas in the Mediterranean and new exploration projects in the Red Sea, as well as the SUMED project for transporting and trading petroleum.

 

During the meeting, the Minister of Petroleum discussed the prospects for maximizing areas of cooperation, investment opportunities and projects in which the Emirati company could participate in light of its interest in pumping new investments in energy fields in Egypt.

 

During his meeting with the Minister of Petroleum, the CEO of Mubadala said that the company's new strategy aims to play a major and effective role in the field of energy transformation.

 

He also referred to the launch of the company's new brand "Mubadala Energy", which reflects the company's direction to enhance its contributions in the field of low-emissions energy.