On 4th March 2021, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, participated, via video conference, in the activities of the (CERAWeek) Conference, the world's premier energy event, which was held virtually during the period from 1st to 5th March 2021 at the U.S, due to the precautionary measures of COVID-19 pandemic.
During his participation in a panel discussion within the Conference activities entitled, "The New Map: Energy, Climate and Charting the Future", El Molla affirmed that Egypt is moving forward towards transferring into a regional hub for trading and exchanging energy, clarifying that within the recent years, Egypt conducted regional and international partnerships serving this goal, whether with East Mediterranean countries, the US or the EU.
He added that Egypt continues to create a supportive climate for transferring into a regional energy hub, through significant steps; of the most important is re-operating Damietta LNG plant after being stopped for 8-years, developing the infrastructure of oil and gas activities, as well as the expansions in oil and gas pipelines, setting new laws and legislation, and establishing the first Gas Regulatory Authority (GASREG).
El Molla highlighted the State's efforts towards expanding the clean energy usage, seeking diversification in clean energy sources by 2025, in light of the Egyptian energy strategy, currently being developed, within the vision for expanding the reliance on solar and wind energy for producing 40% of electricity by year 2030.
