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Wednesday, November 9, 2022
Egypt’s Minister of Petroleum and Minerals, Tarek el-Molla held a discussion session with Tengku Muhammad Tawfiq, executive chairman of Malaysia’s Petronas Group and his accompanying delegation on the sidelines of the COP 27 Climate Summit Conference in Sharm El-Sheikh.
The participants discussed Petronas’ current investments in liquefied natural gas export projects in Egypt, through its current partnership in the Edco Complex for gas emission on the Mediterranean coast, and opportunities available to increase these investments especially as global demand for medical gas grows.
The development and production of natural gas in the Deep Western Delta fields in the Mediterranean were, in which Petronas shares with operator Shell, was a focus of discussion and the parties reaffirmed their commitment to work towards the implementation of the project and completion of the current phase.
Minister el-Molla expressed his full support for the activities of Petronas and oil companies investing in Egypt and noted that the increase in global prices currently represents a challenge to the oil industry in increasing investments and then increasing production. He also reviewed current efforts to increase gas production from Egypt and the Middle East nations of Israel, Lebanon and Palestine under the umbrella of the Middle East Gas Forum, and its link to facilities and infrastructure In Egypt, which he believes accelerates production.
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