Egypt Discusses with EBRD Clean Energy Transition

Egypt Discusses with EBRD Clean Energy Transition

Egypt and the European Bank for Reconstruction and Development (EBRD) discussed clean energy transition and Cairo's ongoing preparations for hosting the UN's Conference of Parties on Climate Change (COP 27).

Minister of Petroleum and Mineral Resources Tarek El-Molla met Vice President of Policy and Partnerships at EBRD Mark Bowman and his accompanying delegation.

The two sides discussed reducing emissions, clean energy, global oil, and natural gas prices, which are witnessing a significant increase affected by the current political crises.

During the meeting, Molla asserted Egypt's commitment to international agreements that aim to preserve the environment and reduce emissions, namely the Paris Climate Agreement.

The two sides agreed to form a joint workgroup to identify clean energy projects, reduce emissions, and prepare for an initiative in light of studies on the low-carbon path to be launched in COP 27.

Molla also indicated that Egypt had adopted an ambitious strategy that supports the transition to cleaner energy use and the reduction of carbon emissions as part of its 2030 Vision for Sustainable Development.

Speaking at a press conference afterward, the Minister said Cairo is currently working on an ambitious plan in partnership among all ministries concerned to use hydrogen as a low-hydrocarbon fuel source.

He noted that modern and