EGYPT, EU TO SIGN ENERGY COOPERATION AGREEMENT THIS WEEK
Egypt and the EU are expected to sign an MoU on “Strategic Cooperation in Energy” this week during EU Energy Commissioner Miguel Arias Cañete’s three-day visit to Cairo, which begins today.
Oil Minister Tarek El Molla had said last week that the agreement is part of a larger plan to turn Egypt into an export hub for East Mediterranean gas, a topic that is expected to feature strongly in Cañete’s talks with Egyptian officials this week, according to a ministry statement. “Egypt can lead the way of the clean energy transition in the Eastern Mediterranean and thus contribute to the Paris climate goals and the worldwide decarbonisation effort,” Cañete said. “The EU stands ready to support Egypt in its energy market reforms and to boost sustainable energy investment.”