In the context of Climate Action and Energy Commissioner Miguel Arias Cañete’s recent visit to Egypt, the first ever EU-Egypt Sustainable Energy Forum took place in Cairo. Egypt’s Minister of Petroleum and Mineral Resources, Tarek al-Mulla, participated in the forum; as did Muhammad Shaker, Minister of Electricity and Renewable Energy. Organised by the Confederation of Egyptian European Business Associations, the meeting’s discussions focused on Egypt’s future as an energy hub, and its potential to boost renewable energy and energy efficiency.
Commissioner Cañete said: “As a global leader in clean energy transition, the EU is keen to support Egypt with sharing experience, financial and technical assistance, and with the mobilisation of international finance. We need to not only public funds but also private investment to accelerate the Egyptian energy transition in order to scale up renewable and efficiency investment, modernise the gas sector, and turn Egypt again into an energy hub. Very ambitious energy sector reforms across the board have already been undertaken, but more are needed: this will create growth and jobs in the country and will enhance regional stability and prosperity, also benefiting the EU … A new era in EU-Egypt relations has started, one which will tap into the immense potential in solar, wind and gas and open up huge investment opportunities.”
Previously during the day, a new Memorandum of Understanding for a Strategic Cooperation in Energy between Egypt and the European Union was signed, with Commissioner Cañete signing on behalf of the European Commission. This new agreement updates the energy sector cooperation between both sides and fully reflects the EU’s priority of implementing a clean energy transition. In order to help diversify Europe’s energy suppliers and routes, the EU is actively engaged in an energy dialogue at political level with North African and Eastern Mediterranean partners, in particular with Egypt.
24 April 2018