Energy Sector
Al-Mashat added that the target related to increasing the percentage of renewable energy in the energy mix to 42 percent by 2030, instead of 2035, was approved.
McMonigle expected that the world will face fluctuations and a significant rise in energy prices.
The IDSC explained that this means that economic growth is linked to energy security and stability.
IDSC stated, in a statement, Sunday that Egypt is likely to depend mainly on thermal energy in the current period until 2030, and the energy generated from natural gas will constitute the majority of thermal energy generated during the current time.
this sector in Egypt faces many basic challenges that require reducing dependence on fossil fuels in energy production, and the trend towards the use of renewable energy as an alternative.
He confirmed that the wise leadership of President Abdel Fattah El Sisi and economic reforms contributed to creating a suitable investment atmosphere.
This agreement aims to secure immediate funding from multilateral and bilateral development partners for budgetary support and assistance in mitigating the impact of the pandemic.
The insurance will enable Noble Energy Inc. of Houston, Texas to restore the 90-kilometer EMG Pipeline running from the coastal city of Ashkelon, Israel and under the Mediterranean Sea to its destination in Al-Arish, Egypt.
Sisi has called on Hungarian companies to invest in Egypt in the energy and industry sectors. Egypt is among the countries with the highest investment revenues.
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