clear

Creating new perspectives since 2009

Commissioner: EU supports energy sector in Egypt 

April 25, 2018 at 3:00 am

EU Energy commissioner Miguel Arias Canete [Claude TRUONG-NGOC/Wikipedia]

The European Union Climate Action and Energy Commissioner, Miguel Arias Canete said the EU supports transforming Egypt into a regional energy hub, a statement by the Egyptian Ministry of Petroleum and Mineral Resources said, Tuesday.

Speaking at the EU-Egypt Sustainable Energy Forum in Cairo, Canete said that Egypt has the potential to become an energy hub, adding that the EU “is keen to support Egypt with sharing of experience, financial and technical assistance, and with the mobilisation of international finance”.

READ: Human Rights Watch warns of humanitarian crisis in Egypt’s Sinai

He went on to say that Egypt and the European Union partnership is a guarantee that successful projects and investments for Egypt in the field of gas, oil and renewable energy will be implemented.

He said that discussions between the EU and Egypt in the field of energy focused on raising the efficiency of energy use, transforming Egypt into a regional hub for various types of energy and supporting renewable energy projects.

On Monday, Egypt and the EU signed a Memorandum of Understanding for a Strategic Cooperation in Energy, which opens up a wide range of opportunities for investment between the two sides in the field of renewable energy.