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| 24 April, 2018

Cairo, EU to transform Egypt into regional energy hub: Minister

Egypt has taken "serious steps" to be a regional center for trade, gas and oil, says Tareq Al-Mulla

Image used for illustrative purpose. 
The South Cairo Electricity Distribution Company and power station is pictured at the Imbaba area in Cairo, September 26, 2014.
Image used for illustrative purpose

Image used for illustrative purpose. The South Cairo Electricity Distribution Company and power station is pictured at the Imbaba area in Cairo, September 26, 2014. Image used for illustrative purpose

REUTERS/Amr Abdallah Dalsh
CAIRO - Egyptian Oil Minister Tareq Al-Mulla said Tuesday Cairo and the European Union (EU) would jointly transform the north African country into a regional energy hub.

Al-Mulla said Egypt has taken "serious steps" to be a regional center for trade, gas and oil.

The minister, addressing sustainable energy forum, said Egyptian oil sector was reaping fruits of reforms.

The European Union (EU) is "an important strategic partner" for Egypt and has always been supportive to Cairo whenever needed, he said.

Egypt and the EU signed yesterday a Memo of Understanding (MoU) for a new strategic cooperation in energy.

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EU's Commissioner for Climate Action and Energy Miguel Arias Canete told the forum that Egypt has great potentials to become a regional energy hub.

He said the EU would offer financial and technical support for Egypt as well as transfer of expertise and technology. (end) hdr.bs

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