Minister of Petroleum and Mineral Wealth Tarek El Mollah asserted that Egypt Petroleum Show (EGYPS 2022) has become a key and important event on the international agenda of energy as it gathers key oil industry businesses in the North Africa and the Mediterranean regions.
Addressing the conference’s inauguration in the presence of President Abdel Fattah El Sisi, Mollah said he is pleased over holding this annual gathering which is the fifth edition of Egypt petroleum show and exhibtion.
He expressed thanks to President Abdel Fattah El Sisi over his continuous support to the oil sector and said the president’s participation is a key factor in rendering the event a success over its past rounds, a matter which contributed to its expansion and growth.
Mollah said the conference succeeded in being an influential platform where officials, ministers, top gas and oil industry executive officers meet.
Over the past seven years, the political leadership launched several national projects in the various fields including the establishment of new cities, an overhaul of the roads network as well as the modern agricultural project of cultivating 1.5 million feddans to change Egypt’s face, Mollah said during the inauguration of EGYPS 2022.
He said President Abdel Fattah El Sisi launched “Decent Life” project to help elevating the living standards of more than 4,000 villages, achieve the targets of the sustainable development plan and improve the life quality of around 60 million people with the launching of the new repubic.
The state has been seeking over the past seven years to reach stability and development and enhance the concepts of social justice, dignity and humanity along with building the Egyptian character from the health and cultural dimensions in order to cope up with the future aspirations, he added.
The coronavirus crisis has proved that Egypt is going on the right track after the recent reforms introduced by the state in the various fields, the minister noted, adding that Egypt managed to achieve a positive economic growth during the fiscal year 2019/2020 in the Middle East and North Africa region.
Mollah said the oil sector has transformed 420,000 vehicles from fuel to natural gas along with replacing the old cars with new gas ones.
The past year has witnessed a leap in the number of gas stations whose number reached 600 along with 400 others which are under construction, the minister noted.
The number of housing units which have natural gas piplines reached more than 13 million, with 13.5 million expected to be finished in June, Mollah noted, adding that such service is offered to 57 million people and thus saving around EGP 20 billion of the state’s subsidies to butane gas cylinders.
Despite the coronavirus pandemic, the Ministry of Oil continued to develop the oil pipelines, the refineries and other oil facilities along with signing 37 oil agreements with international companies with investments worth dlrs 8.1 billion, Mollah said.
He said this event has gained much international attention as countries such as France, US, EU and the World Bank joined it as observers.
The minister also reviewed the oil sector’s efforts to make new explorations and develop the infrastructure in view of several agreements signed with Greece and Cyprus to establish maritime pipelines in the eastern Mediterranean region with the aim of exporting gas to Europe.
Source: State Information Service Egypt