Tarek El Molla, Minister of Petroleum and Mineral Wealth, stated that the ministry seeks to adapt to rapid international developments in sustainability and energy in order to offer more investment opportunities for companies interested in green hydrogen projects.
Molla addressed the first meeting in Egypt of the higher organization committee for cooperation between Egypt, Germany, and the fields of hydrogen and energy. She stated that Egypt and Germany attach great importance to the establishment of partnerships and agreements in this field, especially at the moment. Noting that the energy transition, decarbonization, and all other energy-related issues are high on both countries’ agendas.
The meeting was attended by Stefan Wenzel, the German Deputy Minister for Economic Affairs and Climate Action, Rania El Mashat (Minister of International Cooperation), Mahmoud Esmat, Minister of Public Enterprises Mahmoud Emmat, officials from the electricity ministry, representatives from Egyptian and German companies involved in green energy, as well as several officials from the oil ministry.
Molla also looked at Egypt’s national strategies for energy and the development of green hydrogen investments. She noted that both strategies are in the final stages and will soon be published after an agreement between the ministers of electricity and oil.
He stated that such efforts are aimed at realizing the goals of Egypt’s national strategy for climate action 2050 to improve quality of life and achieve sustainable development and economic expansion while preserving the environment.
The minister expressed gratitude to German partners for their cooperation over many decades and their contribution towards the success of the sector. He also expressed hope that more alliances could be made in the area of green hydrogen.
Wenzel on his part underlined the importance of such meetings which gather senior officials from both sides and representatives of 200 Egyptian companies.
He said that global changes and the challenges they have wrought on the energy sector have opened up new opportunities for cooperation between countries. This has led to a new phase in cooperation between Egypt, Germany, and Egypt in the area of the energy transition.
Wenzel noted that Germany is open to expanding and strengthening its partnership with international partners. He also stated that Germany seeks to strengthen cooperation with Egypt in the energy and hydrogen industry fields. Wenzel also praised Egypt’s energy experiment, which has significantly developed in the past phase.