El Molla discussed ways to enhance mutual cooperation and explore investment opportunities in Egypt's petroleum sector.
Minister El Molla discussed ways to enhance mutual cooperation and explore investment opportunities in Egypt's petroleum sector - Press Photo
Egypt's Minister of Petroleum and Mineral Resources, Tarek El Molla, held talks with a delegation from the German natural gas company Verbundnetz Gas AG (VNG).
The delegation included Martin Fop, Director of Procurement and Liquefied Natural Gas (LNG), Oliver Frieske, Head of International Relations, and Hans Joachim Polk, Board Member. VNG is one of the leading energy companies in Germany.
During the meeting, El Molla discussed ways to enhance mutual cooperation and explore investment opportunities in Egypt's petroleum sector.
The minister highlighted the potential for benefiting from the German company's expertise in renewable energy, particularly in hydrogen production, storage, and transportation. He emphasized Egypt's interest in expanding the implementation of such projects to produce low-carbon energy sources, considering the country's capabilities and promising opportunities in these fields.
On their part, the German company officials expressed their eagerness to visit Egypt and explore investment opportunities.
They saw the potential for establishing joint workshops to exchange new ideas, share the company's project experiences in natural gas, renewable energy, and hydrogen production and transportation.
They also emphasized the importance of leveraging Egypt's resources to produce renewable energy and hydrogen and transferring their advanced expertise and technologies to achieve mutual interests for both parties.
The discussions were attended by Dr. Magdy Galal, Chairman of the Egyptian Natural Gas Holding Company (EGAS), and his deputy for operations and networks, Engineer Yassin Mohamed, along with Engineer Alaa Hajjar, the Ministry's Technical Office Deputy.
Egypt's efforts to attract foreign investment and develop its energy sector have gained momentum with the collaboration between the Ministry of Petroleum and Mineral Resources and Verbundnetz Gas AG.
This partnership presents an opportunity to harness Germany's expertise in renewable energy, particularly in hydrogen production, to further advance Egypt's goals of sustainable and low-carbon energy sources. It also signifies Egypt's commitment to exploring innovative solutions and benefiting from international knowledge exchange in the energy sector.
