On 12th November 2018, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources participated in the 21st Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2018, under the patronage of H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, under the slogan “Shaping the Future of Oil and Gas Industry”, with the participation of 100 speakers of Petroleum and Energy Ministers from Egypt, Saudi Arabia, UAE, Venezuela, Jordan, Bahrain, Sudan, Mali, India, Thailand, as well as OPEC Secretary General, Oil and Energy Organizations’ Officials and CEOs of international oil companies.
During the Ministerial Panel, in which Eng. Tarek El Molla participated as a key speaker, titled “Reshaping Markets: Continuing the Global Energy Discussion”, he asserted that Egypt owns the main factors, contributing to changing the energy scene in the Mediterranean region, through the National Project of transferring Egypt into a regional hub for trading and exchanging oil and gas. The panel included H.E Suhail Al Mazrouei, Minister of Energy and Industry, UAE, H.E Mohammed Bin Hamad Al Rumhy, Minister of Oil and Gas, Sultanate of Oman, and H.E Dharmendra Pradhan, Minister of Petroleum and Natural Gas, India.
On the political level, El Molla mentioned the cooperation with the European Union in this regard, as a Memorandum of Understanding has been signed with the EU to bolster the strategic energy partnership, as well as signing various bilateral agreements with neighboring countries such as Cyprus, Jordan and Iraq, to monetize the gas discoveries in the region, in addition to the strong cooperation between Egypt and Greece in the oil and gas industry.
On the technical and commercial level, El Molla declared that there are many huge projects in the fields of refining, petrochemicals and infrastructure that are currently under implementation, aiming at transferring Egypt into a Regional Energy Hub.
On the regional level, Egypt could be a Hub for refining, manufacturing, distribution and transportation, to achieve the optimal economic exploitation for gas discoveries in the region.
Moreover, the Minister asserted the strong partnership with the EU in the energy domain, as well as coordination and cooperation for mutual benefit of the available opportunities to meet the challenges facing the region.
The Minister highlighted Egypt’s success in achieving significant discoveries in the recent years; such as Zohr Field; which proves promising potentials, and other major discoveries in the deep waters in the Mediterranean, expecting to change the energy scene in the entire Mediterranean region and pumping more investment in the natural gas exploration domain in the concession areas adjacent to Zohr field, for achieving more promising discoveries in the region.