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Petroleum Minister Participates in the GECF 19th Ministerial Meeting

Source: www.gulfoilandgas.com 10/4/2017, Location: Egypt

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Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources participated in the 19th ministerial meeting of the Gas Exporting Countries Forum. The meeting commenced in the Russian Capital Moscow, headed by the Russian Minister of Energy, Alexander Novak with the participation of Energy and Petroleum Ministers who are members of the Forum, in addition to 7 observing countries and the Secretary General of the Forum.

The Minister pointed out during the meeting that Egypt as a member of the forum supports its goals on top of which expanding the use of natural gas as a clean source of energy in a bid to achieve sustainability. He asserted on the importance of promoting investments in natural gas domain, which Egypt is currently implementing with a clear practical vision that contributed to realizing a tangible development in Egyptian gas industry, whether in increasing production levels and developing Egyptian major gas discoveries projects or in developing and utilizing infrastructure of the gas industry, to bolster Egyptís orientation of becoming a central HUB for trading and exchanging natural gas.

On the sideline of the forum, The Minister met with Bolivian Minister of Hydrocarbons and Energy, Luis Alberto Sanchez, who renewed his countryís invitetation for President Abdel Fattah El Sisi to attend the fourth GECF summit, hosted by Bolivia next November, Leaders of GECF member countries and Governments will attend the summit.

The Minister also met with Venezuelan Oil Minister, Eulogio Del Pino, where they discussed the status of global markets and the levels of crude prices, in addition to discussing current opportunities in natural gas market. The Minister expressed eagerness to exchange expertise between both countries in the coming period.

The Minister also discussed with Eng. Mustapha Guitouni, Algerian Energy Minister, means of developing cooperation between both countries in Oil and Gas domains.

Furthermore, He met with CEOs of Russian companies ROSNEFT and LUKOIL where they discussed increasing their activities in Egypt especially that ROSNEFT will invest in Zohr field as a partner to ENI, they also reviewed available investment opportunities in Egypt.

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