EU, Egypt to ink strategic energy partnership deal
CAIRO, April 21, 2018
European Union is set to sign an MoU for strategic cooperation in energy with Egypt, which is fast becoming an important gas and electricity hub that can provide energy security for the bloc as well as the entire region, said a report.
Climate Action and Energy Commissioner Miguel Arias Canete will be in Egypt this week for a high-level meeting with government officials and energy stakeholders, reported state news agency Wam.
Canete will also meet European energy companies and open the EU-Egypt Sustainable Energy Business Forum & Exhibition. Furthermore, he is likely to pay a visit to the Zohr onshore gas facility in Port Said.
''The visit is a key element of the external dimension of the Energy Union, a political priority of the Juncker Commission," remarked Canete ahead of the visit.
"The EU and Egypt are strategic partners on energy. The potential for an even closer energy cooperation between the EU and Egypt is enormous, and I hope this visit will herald a new phase of closer and more intense relations amongst us,'' he added.
Egypt, he stated, can lead the way of the clean energy transition in the Eastern Mediterranean and thus contribute to the Paris climate goals and the worldwide decarbonisation effort.
"There is much to gain in terms of access to new sources of energy and market opportunities, for European and Egyptian citizens and businesses alike. The EU stands ready to support Egypt in its energy market reforms and to boost sustainable energy investment," he added.
