Minister of Petroleum and Mineral Resources Tarek El Molla participated in the signing of two joint declarations of intent (DoI) between Egypt and Germany to cooperate in the fields of liquefied natural gas (LNG) and green hydrogen, with the aim of securing clean energy supplies, achieving sustainable development and confronting climate change, the ministry said in a statement.
Minister of Electricity and Renewable Energy Mohamed Shaker, Minister of International Cooperation Rania Al-Mashat, Federal Minister of Economy and Climate Protection Robert Habeck, and Undersecretary of the Ministry of Economic Cooperation and Development Jochen Flasbarth also participated in the signing of both declarations in the presence of Ambassador Khaled Galal, Ambassador of Egypt to Germany, and Ambassador Frank Hartmann, Ambassador of Germany in Cairo.
The first DoI was signed between the Egyptian Ministry of Petroleum and Mineral Resources and the German Ministry of Economic Affairs and Climate Action includes cooperation in LNG and its promotion at the governmental and private sector levels. El Molla explained that it aims to support cooperation at the level of the governmental and private sectors between the two countries in the field of energy trade in parallel with achieving the commitments of The Paris Agreement.
The second DoI was signed between the Ministries of Electricity, Petroleum, and International Cooperation from the Egyptian side and the Ministries of Economic Affairs and Climate Action, and Economic Cooperation and Development Cooperation from the German side, in the field of green hydrogen, emphasizing the common goal of creating a suitable environment for sustainable economic and environmental development for both countries and deepening cooperation Joint implementation of the goals of The Paris Agreement and the Glasgow Climate Pact.
El Molla further highlighted the importance of the DoI signed with Germany in the field of hydrogen to benefit from its expertise and advanced technology, pointing out the necessity of the agreements in supporting bilateral relations and cooperation with the private sector in the field of natural gas and hydrogen. He added that they reflect the consensus of both countries to achieve the common goal of creating an appropriate environment for achieving sustainable development.
This signing comes a few hours before the opening of COP27 in Sharm El-Sheikh, which is witnessing for the first time the inclusion of Decarbonization Day as part of the main topics of the conference to shed light on local, regional and global efforts and success stories in reducing carbon in the oil and gas sector, El Molla noted.