Cairo, Doha explore ways to boost Qatari investments in Egyptian oil, gas projects

Daily News Egypt
3 Min Read

Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla met with Qatari Minister of State for Energy Affairs Saad bin Sherida Al Kaabi to discuss how to improve cooperation between the two countries in the energy sector. They talked about the opportunities for Qatari companies to participate in gas and oil research and exploration through international auctions offered in Egypt. They also discussed the possibilities of joining new refining and petrochemical projects in line with the Egyptian state’s goal of maximising the added value of natural resources.

The two ministers also exchanged views on the efforts of both countries to secure energy sources and the developments in the liquefied natural gas markets.

In addition, El Molla held talks with the energy ministers of the Russian Federation and Venezuela, and the Secretary-General of OPEC, on the sidelines of his participation in the 7th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF).

The Egyptian Minister had a discussion session with the Minister of Energy of the Russian Federation Nikolay Shulginov. They discussed ways to enhance bilateral cooperation in the energy field and reviewed the efforts of both sides to secure energy sources while reducing emissions and removing carbon from natural gas. They emphasised the importance of gas as a transition fuel in the global energy mix.

El Molla pointed out that Egypt’s participation in the BRICS group helps to strengthen cooperation and trade relations between Egypt and Russia. He expressed his support for the priorities of cooperation between the BRICS countries in the energy field proposed by Russia, especially regarding energy transition, energy security, and reducing methane emissions.

The Egyptian Petroleum Minister also had a discussion session with the Venezuelan Minister of Oil Pedro Rafael Tellechea. They discussed the opportunities for Egyptian petroleum sector companies to participate in developing infrastructure projects in Venezuela in the oil and gas field, given the efficiency of Egyptian petroleum sector companies in implementing previous projects in Venezuela.

Furthermore, El Molla had a discussion session with Haitham Al Ghais, the Secretary General of OPEC, to discuss enhancing cooperation between the petroleum sector and OPEC.

The two sides stressed the important and ongoing role of the oil and gas industry in securing global energy supplies along with the development of renewable energy sources. They also highlighted the need to increase dialogue between all parties and inject more investments to develop energy resources and ensure their supply security.

Share This Article
Leave a comment