Home
Loading...
You are here:  Home  >  Business  >  Current Article

Arab African Bank funds alternatives to electricity and natural gas

  /   1 Comment   /   729 Views

Minister of Electricity and Energy says Egypt and UAE are establishing nuclear power reactors

Number of factories owners decided to cease operations until a recent decision to increase the price of mazut and natural gas was rescinded. (AFP Photo)

In response to a question regarding what steps were being taken to develop alternative sources of energy for Arab states to help wean themselves off dependency on electricity and natural gas
(AFP Photo)

In response to a question regarding what steps were being taken to develop alternative sources of energy for Arab states to help wean themselves off dependency on electricity and natural gas, Egypt’s Minister of Electricity and Energy Ahmed Imam stated that the Arab-African Bank (AAB) in Egypt was currently in the process of finding alternatives and seeking funding for new projects.

There is currently no political cooperation between Arab states regarding the distribution of energy, he said, pointing out that both Egypt and the United Arab Emirates are currently in the process of establishing nuclear reactors. Nuclear power, he said, was no longer a political issue, but rather had become an issue of economics and development.

In a press conference held with the Iraqi and Palestinian Ministers of Electricity, which took place during a recent conference held between Arab electricity ministers, Imam stated that studies were currently underway into how best to develop and transport alternative forms of energy between Arab states.

He added that plans to connect trans-national electricity lines between various Arab states were also moving along smoothly, saying that Egypt was currently working to develop lines going in and out of Libya, Jordan and Saudi Arabia. Electricity exchanges between Egypt and Saudi Arabia would be especially fruitful, he said, considering that peak hours in the two countries take place at different times. The Egypt-Saudi Arabia line is expected to transport upwards of 3,000 megawatts of energy between the two countries.

Amr Kitana, president of the Palestinian Energy and Natural Resources Authority, praised Egypt saying that the country had spared no expense in helping to provide its Arab brothers with energy aid. He stated that it was clear that the Palestinian issue remained on the agenda of Arab businessmen throughout the region, saying that he was especially proud of increases in the amount of aid given to residents of the Gaza Strip.


You might also like...

EGPC tracking distribution of fuel through GPS to prevent smuggling

Read More →