SECTION 4: SUSTAINABILITY & REGIONAL PERFORMANCE

Egypt Is Regional Hub For Trading Oil And Gas

In its effort to turn Egypt into a regional trading hub for oil and gas, the Ministry of Petroleum and Mineral Resources is working on different levels to boost cooperation and coordination both regionally and internationally, in addition to promoting its competitive potential in this industry either at the level of coordination with the governments of countries or international companies operating in the region.

During 2022, work and coordination took place with neighboring countries and the European Union (EU) through technical work group that hold meetings periodically in order to research and study how to bring the largest amount of eastern Mediterranean gas to Egypt for re-export or the possibility of using it in the local market.

In this regard, remarkable accomplishments have been achieved during the past year including:

Signing a Tripartite MoU under the East Mediterranean Gas Forum (EMGF)

THE EMGF… ACTIVE ROLE AND OUTSTANDING OUTCOMES

The East Mediterranean Gas Forum (EMGF), being established with seven Mediterranean countries and with its headquarters in Cairo, has played an active role in enhancing natural gas cooperation in coordination with the Forum’s member states, in addition to the EU and US as observers. The Forum aims to develop sustainable regional gas markets to maximize the utilization of unlocked natural gas in the East Mediterranean region and promote the competitive advantages enjoyed by Egypt.

One of the most significant outcomes of the Forum is the signing of the tripartite MoU in Cairo between Egypt, the EU, and Israel to cooperate in natural gas transport from the East Mediterranean to Europe by using Egyptian infrastructure.

Signing an Egyptian-Palestinian MoU

Target

Development of the Gaza Marine gas field with the participation of EGAS

Launching initiative to reduce emissions and decarbonize natural gas industry in the forum countries

June 2022

Date Objective

Partners

The European Union (EU) and Israel

Signing a Declaration of Intent

The

Egypt took over the presidency of the forum in 2023, headed by H.E. Eng. Tarek El Molla

An Active Presence On The Regional And International Arenas

The Egyptian petroleum industry continued its active presence in several important international energy conferences.

The Egyptian Presence on the Regional and International Areas

1. Egypt in Gas Exporting Countries Forum (GECF)

» Hosting the ministerial meeting of the Forum in October 2022 in Cairo.

» The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, was the chairman of the forum.

» Participating in Summit of Heads of State of the GECF Member Countries in Doha in February 2022.