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Monday, November 8, 2021
Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, spent last week in Glasgow attending the COP26 meeting. During the week he participated in the launch of the Net Zero World Initiative and met with the chief energy officials of both the EU and US, among others.
Egypt has upped its efforts over the last two decades to develop and utilize natural gas as a primary resource in the North African country. Both CNG and LNG have played a significant role resulting in a 25% increase in natural gas consumption. Additionally, Egypt aims to generate 42% of its electricity from new and renewable energy by 2030.
Egypt is also looking at producing blue hydrogen in the medium- and short-term and will eventually produce green hydrogen, according to El Molla. In October, Egypt signed a deal with Scatec that will see the company build, operate and majority own a green hydrogen facility. The facility will be located in Ain Sokhna and is a first step towards developing a green hydrogen hub in Egypt.
During his participation in the Net Zero World Initiative panel moderated by the US Secretary of Energy, Jennifer M. Granholm, El Molla affirmed that Egypt has an ambitious strategy guiding its transition to using clean energy and reducing carbon dioxide emissions, as a part of its sustainable development vision Egypt 2030. He added that this strategy adopts three pillars, including the promotion of natural gas as fuel, preparing a national plan to expand the use of hydrogen as an alternative, and maximizing the usage of renewable energy resources. The country has already implemented significant solar and wind energy projects.
On the sidelines of COP26, El Molla held separate bilateral talks with US Secretary of Energy Jennifer Granholm and the European Union’s Commissioner for Energy, Kadri Simson. The talks with Granholm focused on clean fuels and general cooperation in energy through the Net Zero World Initiative. Meanwhile, Simson and El Molla discussed cooperation in the transportation and export of natural gas to Europe.
El Molla is keen to bring COP 27 to Sharm El-Sheikh, in 2022, in line with his country’s goals to become a major energy hub in the region.
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