Gulf Oil and Gas accountACCOUNT

Egypt & European Union Signed a Strategic Cooperation in Energy

Source: www.gulfoilandgas.com 4/23/2018, Location: Africa

Share |
In the context of Climate Action and Energy Commissioner Miguel Arias Canete’s visit to Egypt, the first ever EU-Egypt Sustainable Energy Forum took place in Cairo. The Forum counted with the presence of Tarek Elmolla, Egyptian Minister of Petroleum and Mineral Resources, and Mohamed Shaker, Minister of Electricity and Renewable Energy. Organised by the Confederation of Egyptian European Business Associations, the meeting’s discussions focused on Egypt’s future as an energy hub, and its potential to boost renewable energy and energy efficiency.

Commissioner Arias Canete, speaking at the Energy Forum, said:
As a global leader in the clean energy transition, the EU is keen to support Egypt with sharing of experience, financial and technical assistance, and with the mobilisation of international finance. We need to not only public funds but in particular private investment to accelerate the Egyptian energy transition in order to scale up renewable and efficiency investment, modernise the gas sector, and turn Egypt again into an energy hub. Very ambitious energy sector reforms across the board have already been undertaken, but more are needed: this will create growth and jobs in the country and will enhance regional stability and prosperity, also benefiting the EU. With today’s signing of our joint Memorandum, a new era in EU-Egypt relations has started, one which will tap into the immense potential in solar, wind and gas and open up huge investment opportunities.

Previously during the day, a new Memorandum of Understanding for a Strategic Cooperation in Energy between Egypt and the European Union was signed, with Commissioner Arias Canete signing on behalf of the European Commission. This new agreement updates the energy sector cooperation between both sides and fully reflects the EU's priority of implementing a clean energy transition. In order to help diversify Europe’s energy suppliers and routes, the EU is actively engaged in an energy dialogue at political level with North African and Eastern Mediterranean partners, in particular with Egypt.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Investment News in Egypt >>

Egypt >>  5/23/2018 - Supporting the modernisation of Egypt’s oil industry, the EBRD is providing a US$200 million for major investments in energy efficiency and refurbishm...
Tanzania >>  5/14/2018 - Swala Oil & Gas (Tanzania) plc announced that Orca Exploration Group Inc. (“Orca”) has agreed to an additional extension to the date by which the seco...

United Arab Emirates >>  5/13/2018 - The Abu Dhabi National Oil Company (ADNOC) unveiled plans to invest AED 165 billion (US $45 billion) alongside partners, over the next five years, to ...
Norway >>  4/27/2018 - German gas supplier VNG is attracting interest from private equity-backed energy firms including Chrysaor and Point Resources for its Norwegian Norge ...

United Kingdom >>  4/26/2018 - Aker Solutions officially opens its upgraded Aberdeen services facility to help capture subsea sector growth in the UK and elsewhere. ...
Iran >>  4/20/2015 - Two British companies are gathering information about how to invest in Iran, managing-director of Iran Industries Investment Company said. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

More News

 

Oil & Gas Companies in Egypt >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.