Petroleum Africa
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Sunday, July 8, 2018
World Bank Executive Director Merza Hasan visited Egypt and held talks with the country’s Minister of Petroleum, Tarek El Molla. The talks revolved around the World Bank’s support of Egypt’s efforts to become a regional oil and gas trading hub.
According to the Ministry of Petroleum, the officials discussed oil and gas projects to which the World Bank is contributing and talked about boosting cooperation with the bank for new investment opportunities.
Egypt is once again about to become self-sufficient in terms of domestic supply of natural gas and will no longer need to import LNG. The turnaround for the country is significantly due to recent natural gas developments coming online, including the massive Zohr discovery made by ENI.
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