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Moving Forward within an Integrated Sustainable National Energy Strategy to 2035

Source: www.gulfoilandgas.com 9/20/2016, Location: Egypt

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Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, delivered a speech in the Integrated Sustainable National Energy Strategy to 2035 , at the presence of Eng. Mohamed Shaker, Minister of Electricity and Renewable Energy, and Mr. Reinhold Brender, Minister Counsellor and Chargé d’affaires of the European Union Delegation to Egypt.

The Petroleum Minister affirmed that preparing an integrated energy strategy to 2035, in participation with the European Union, is an essential step towards a better future. He mentioned that the strategy aims at reforming energy sector status in Egypt, overcoming the challenges, facing the Sector. He also stressed the importance of diversifying the energy mix, which depends, heavily, on oil and gas.

Moreover, he assured that the main elements of the strategy include energy security, by boosting, diversifying and improving energy efficiency; sustainability, by addressing debt build up and phasing out of subsidies in a socially responsible manner, and improving governance, by improving and modernizing the oil and gas sector’s governance and encouraging private sector investment.

Finally, the Minister praised the long-standing strategic relation with the European Union, that has always proved to withstand challenges.

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