Egypt has achieved an impressive progress in benefiting from gas assets: IEA head

Egypt has achieved an impressive progress in benefiting from gas assets: IEA head

The Executive Director of the International Energy Agency Fatih Birol said that what Egypt has achieved during the past years is impressive, by benefiting from gas assets and switching to the electricity market.

Egypt was able to achieve a surplus after the deficit, he added, which made a difference in solar energy.

The increase in support led to attracting huge amounts of investments from financial institutions and private capital money, alongside Egypt’s recent successes in the electricity sector.

During his speech at the Egypt Petroleum Show 2022 (EGYPS 2022), Birol said that the conference is taking place at a defining moment for Egypt, Africa and the world in terms of climate and energy.

He noted the distinct challenges facing the world today, especially climate change, pointing out that choosing Egypt to host COP27 representing Africa is a great responsibility that he believes Egypt will succeed in.

Birol explained that in light of these developments in Egypt and following the request of the Egyptian government, he looks forward to Egypt joining the International Energy Agency as an associate member.

“We are interested in deepening cooperation and are ready to provide any support in the coming years. Oil and gas prices today are in a dangerous area. All