Egypt’s Petroleum and Mineral Resources Minister Karim Badawy asserted that Egypt plays a very important role as a gate between the east, the west and the north in the trade of natural gas and hydrogen in light of the availability of infrastructure necessary and availability of the natural resources and renewable energy sources including solar energy and wind power.
This came during Badawy’s participation in the inauguration of “Gastech 2024” Exhibition held in Houston in the US on September 17-20 with the participation of a galaxy of energy ministers and heads of international energy companies, according to a statement of the Petroleum Ministry on Wednesday.
Badawy asserted the importance of providing suitable economic environment to attract investments to the petroleum sector and provide the needed investments to finance decarbonization activities.
He pointed out to increasing the participation of the capabilities of the renewable energy in power mixture in Egypt to a percent reaching 42% by 2030 within the framework of integrated and sustainable energy.
Badawy asserted the importance of working on providing quantities of natural gas to use them in the projects of the value added.
He shed light on the role of technology in increasing production of the current fields and means of benefiting from technology to accelerate the operations of search and excavation, in addition to working with other countries in the region to be able to use the infrastructure in Egypt to receive the gas coming from East Mediterranean countries to liquefy it and re-export it to the European markets.
He also noted the importance of using the wide-range infrastructure owned by Egypt in the field of petrochemicals and refineries to create added value.
He asserted the importance of the sector of energy to the Egyptian economy and the willingness of the new government to accelerate attracting investments and continuous cooperation between the private sector and the governmental authorities.
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