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OAPEC Member Countries
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Volume 42 Issue 10
Moving forward Energy
Strategy to 2035
In his speech titled
‘Moving Forward with an Energy Strategy to
2035'
before the EU- Egyptian Conference, EgyptianMinister of Petroleum
and Mineral Resources HE Eng Tarek El Molla stated that setting up a
plan for sustainable energy until 2035 in cooperation with European Union
(EU) is a vital step towards a better future. The strategy aims to develop
the Egyptian energy sector and overcome its challenges specially the
increasing demand, which led to less commitment to energy efficiency,
and affected investment flow. He stressed the importance of expanding the
diversification of the energy mix which depends mainly on petroleum and
gas.
The Minister added that the National Energy Strategy to 2035 aims to
achieve energy security through boosting and diversifying energy efficiency
and sustainability by addressing payment dues and implementing subsidies
reform in a socially-responsible way, good governance and modernization
of the petroleum and gas sectors, as well as, encouraging private sector
investments.
HEElMolla stated that energychallenges inEgypt arehuge, nevertheless;
they are solvable. He stressed that Egypt has all success components,
as well as, the political will and the help of its partners’ expertise. The
Minister reiterated his Ministry’s commitment to creating the appropriate
investment climate through financial incentives, the availability of skilled
labour force, and the transparency of regulations and systems needed for
successful cooperation and partnerships. He pointed out that these are
considered decisive factors to meet Egyptian energy needs and ‘achieve
the energy efficiency model we seek.’The Minister also underlined Egypt’s
long strategic relationship with the EU that has always proved its solidity
in the face of any challenges.
Egypt