Molla, WB officials review Egypt's successful experiment in reforming energy sector

CAIRO - 28 June 2018: Petroleum Minister Tarek el Molla visited the premises of the World Bank in Washington, where he had a plenary meeting with several officials in charge of energy affairs and the Middle East and North Africa region.

The meeting falls within the framework of his current visit to Washington to attend the 27th session of the 2018 World Gas Conference (WGC).

During the meeting, Molla underlined that the important reforms, which were carried out by the Egyptian government in the energy sector over the past four years, gave a strong thrust to Egypt's economy.

The Petroleum Ministry said in a statement on Thursday that the minister reviewed with the WB officials the positive outcome of Egypt's energy sector reform program that helped to overcome challenges facing the energy industry, ease burden on the state and secure foreign currency.

For their part, the WB officials lauded Egypt's successful experiment to reform the energy sector, saying this success enables Egypt to restore its prestigious position in the energy market at the regional and international levels.

The WGC is one of the major world conferences that discusses the latest developments of the gas industry. The conference convenes once every three years.

More than 600 senior officials operating in the gas and petroleum domains are taking part in the conference in addition to heads of major companies like BP, Shell, Chevron, Total and Exxon Mobil.