Egypt, IEA sign plan of action to support Cairo’s transition to low carbon economy

Egypt’s Minister of Petroleum Tarek El Molla and CEO of the International Energy Agency (IEA) Fatih Birol have signed a joint plan of action between Egypt and the agency that aims at supporting the Egyptian State’s efforts for transition to a low carbon economy.

In a statement on Tuesday, the Ministry of Petroleum stated that the plan of action aimed at diversifying the sources of energy through expansion in the renewable energy production, enhancing measures of reducing carbon emissions in the oil sector, in addition to achieving the economic growth objectives that have been agreed upon among the ministries of petroleum, foreign affairs, electricity, renewable energy, environment and representatives of IEA.

The program comprises six key fields; the outline of the models and programs to reduce carbon, expansion of renewable energy and hydrogen production, support capabilities of statistical analysis and sustainability of data availability of the oil sector, improving energy efficiency, reduction of carbon, studying impact of climate change on energy sector, the statement added.

The two sides agreed on giving priority to training programs and building capabilities, the statement said.

Molla asserted that Egypt fully recognizes the importance of its role in the Middle East region and has taken the initiative of calling for ensuring the rights of peoples to develop their natural resources and enhance cooperation under the umbrella of The East Mediterranean Gas Forum (EMGF).

He also underlined the importance of cooperation between the Egyptian government and IEA as regards the reduction of emissions and accelerating the production of new and renewable energy and the green hydrogen.

Birol, for his part, underlined the importance of cooperation between the two sides, commending the important role played by the political leadership and Egyptian government in the current conflict in Palestine.

He also invited the Egyptian minister to attend IEA celebrations marking its golden jubilee, set for February in Paris.

Egypt has officially joined the International Energy Agency at the Egypt Petroleum Show 2022 conference in Cairo, to be the second country in the Middle East and North Africa region to be an active member of IEA.