On October 5th, 2017, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources participated in the presidential session of the Russian Energy Week in Moscow in which President Vladimir Putin was the keynote speaker in presence of Energy and Oil Ministers from participating countries as well as presidents of major global energy organizations and a number of CEOs of global energy companies.
President Putin announced during the session that during the next 20-25 years, Hydrocarbons would become the main source of energy in the world and that it is expected conventional and non-conventional energy resources to have a fierce competition.
From his part, Eng. Tarek El Molla announced after the session that Egypt’s participation in major global energy events comes from deep keenness to be part of discussions about major energy issues to cope with the latest methods of overcoming challenges that face the Oil and Gas industry worldwide, as well as futuristic outlook of energy markets. He asserted on the importance of such gatherings in strengthening Egypt’s ties with countries involved in the energy industry in a bid to support Egypt’s goal of transforming into a regional energy hub for trading and exchanging energy.
He also asserted that discussions with major Russian oil companies such as Lukoil and Rosneft signals the strength of ties between both countries especially that the Russian companies seek to expand activities in Egypt mainly in the Natural Gas upstream domain.
On another side, the GECF ministerial meeting agreed on electing the Energy Minister of Trinidad and Tobago as president of the ministerial council during 2018, they also agreed on electing Eng. Tarek El Molla as vice president during the same period.
The Minister also attended President Putin’s meeting with participating Energy and Petroleum Ministers.