Egypt has remained resolute in its project implementation.
Egypt showcases resilience in climate change efforts despite funding challenges - File Photo
Dr. Mohamed Saad Eldin, Chairman of the Association of Liquefied Natural Gas Investors, emphasized Egypt's remarkable strides in combating climate change through large-scale clean energy projects in recent years. Despite international financing pledges falling short since the Paris Climate Conference eight years ago, Egypt has pressed forward with ambitious initiatives in the clean energy sector.
Saad Eldin praised the Egyptian government's steadfast commitment to advancing infrastructure projects aimed at transitioning the country to a clean energy economy. Despite financial constraints and limited dollar reserves due to global crises and conflicts in regions such as Russia, Ukraine, and Gaza, Egypt has remained resolute in its project implementation.
During the seventh International Energy Conference and Exhibition (EGYPES 2024), President Abdel Fattah el-Sisi highlighted Egypt's steady progress in the energy sector, noting a significant increase in the number of residential units using natural gas for cooking, reaching 15 million, along with over half a million natural gas-powered vehicles over the past seven years.
President el-Sisi called on the European Union, the international community, and financial institutions to support poor and developing countries in securing necessary financing and fulfilling commitments to address credit risk issues, which pose a significant burden on African countries, while considering each country's unique economic circumstances.
The conference aims to underscore the importance of balancing the transition to cleaner and more sustainable energy sources with responsible and environmentally friendly supply methods.
This approach is crucial for maintaining economic growth, meeting the needs of populations, and is being achieved through the petroleum and gas industry's commitment to implementing carbon emission reduction technologies alongside the development of green and renewable energies, particularly hydrogen.
Egypt, like many nations, faces the dual challenge of economic development and environmental sustainability. With a rapidly growing population and increasing energy demands, the country has recognized the importance of transitioning to cleaner and more sustainable energy sources to mitigate the impacts of climate change and ensure long-term prosperity.
In recent years, Egypt has embarked on ambitious projects to harness renewable energy, promote energy efficiency, and reduce carbon emissions. However, these efforts have been met with financial setbacks and external challenges, underscoring the need for continued international support and collaboration.
Despite facing financial constraints and global uncertainties, Egypt remains committed to its path towards a clean energy future. The country's leadership, as demonstrated by President Abdel Fattah el-Sisi, has shown unwavering determination to advance infrastructure projects and promote sustainable development.
The seventh International Energy Conference and Exhibition (EGYPES 2024) serves as a platform to reaffirm Egypt's commitment to climate change mitigation and to rally international support for its efforts. With continued collaboration and investment, Egypt is poised to emerge as a leader in clean energy innovation, contributing to global efforts to combat climate change and secure a sustainable future for generations to come.
