Egypt’s PM moves to boost gas exportation

By Bisola Adeyemo

Prime Minister Mostafa Madbouly of Egypt, is set to boost the exportation of natural gas to other countries.

He also said his administration is ready to take up steps to increase reliance on renewable energy, in generating electricity.

The prime minister stated this during a meeting during a video-conference meeting Monday night with the ministers of electricity, petroleum, and finance.

During the meeting, the PM underlined the growing importance of the use of clean energy worldwide to limit carbon dioxide gas emissions from fossil fuels.

According to Egypt state information service, Madbouly said his government is seeking to use energy generated from the sun and wind as an alternative to locally produced natural gas, which could very well be exported in the wake of global price hikes.

On his part, the Cabinet spokesman Nader Saad said the talks also focused on an integrated and sustainable energy strategy until 2035.

“The strategy had been outlined by the petroleum and electricity ministries with the aim to come up with the best combination of energy resources that would bring in highest returns with lowest cost, Saad added.

“Work is underway to update the strategy to continue through 2040 in light of the increased contribution of new and renewable energy resources, Saad said.