African Union Participate in the High-level Strategic Meeting at the EGYPT Petroleum Show (EGYPS)

oil week

Cairo, Egypt - 13 February 2023 - The Egypt Petroleum Show (EGYPS) kicked-off today in Cairo, Egypt under the patronage and attendance of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt. EGYPS  sits at the heart of the African and Mediterranean advancing oil and gas industries,  energy conversation and a platform with the power to convene global industry leaders annually.  

EGYPS is also an important enabler of influence and engagement from government, policy level to industry leaders, influencers and engineers providing technical enrichment as well as drives the conversations that address sustainable climate-conscious production of oil and gas and the growing commitment to energy transition and a net-zero future.

Speaking at the welcoming opening, His Excellency Take El Molla Minister of Petroleum and Mineral Resources Arab Republic of Egypt, welcomed the delegates stating that ‘‘Egypt will continue be the windows toward delivering the sustainable investment in the energy sector. He highlighted the importance to security, sustainability and affordability. Commitment and expertise are required to overcome the challenges facing the energy sector globally’’.

On the side-line of the opening of the EGYPS, a high-level panel of Experts discussed the geopolitical uncertainty and changing dynamics of the global energy trading system have highlighted the importance of energy security for all global economies.  

Her Excellency Dr Amani Abou-Zeid, Commissioner for Infrastructure and Energy of the African Union spoke on the discussion on Managing supply and demand in volatile times – supporting global economies and energy security, stressing that Africa’s ambitions to rapidly address energy access and energy security challenges by exploiting the rich and diversified energy resources while underlining the need to unleash adequate financing and innovative investment to speed up the process.

H.E Dr Amani Abou-Zeid, further recalled that African Common Position on Energy Access and Just Transition identifies financing as a critical pillar to achieving Africa’s targets of developing its energy sector along a low-carbon and climate-resilient pathway.  “This status quo has to change and all stakeholders should demonstrate the willingness to make the required policy adjustments that will unlock the flow of financing necessary for energy access and energy transition in Africa while ensuring local transformation, production and domestic trading of oil & natural gas product within Africa.”

Dr Amani Abou-Zeid reiterated that it is crucial to secure meaningful financial commitments and investments in gas sector not only as transition fuel but as an enabler to enhancing the uptake of renewables in the long term for low carbon and climate-resilient trajectory.

“Europe will prioritise investment and continue to provide climate support,’’ said Kadri Simson, Commissioner for Energy, European Commission, Europe

The panel discussion highlighted that the long-term goal of Africa is to transition towards clean and sustainable energy systems, the current level of energy access on the continent call for the utilisation of both renewable and non-renewable energy sources to meet its development goals.
 

 

The Egypt Petroleum Show (EGYPS) kicked-off in Cairo, Egypt under the patronage and attendance of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt. EGYPS  sits at the heart of the African and Mediterranean advancing oil and gas industries, energy conversation and a platform with the power to convene global industry leaders annually.  

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