Source: European Commission
On 23 April 2018, the first EU-Egypt Sustainable Energy Forum took place in Cairo, Egypt. The EU Commissioner, Miguel Arias Cañete, the Egyptian Minister of Petroleum and Mineral Resources, Tarek Elmolla, and the Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, attended and discussions focused on “Egypt’s future as an energy hub, and its potential to boost RES and energy efficiency”.
The EU and Egypt took the opportunity to sign a Memorandum of Understanding (MoU) for a Strategic Cooperation in Energy until 2022. This new agreement updates the existing energy cooperation between the two parties that had been in place since 2008. The MoU is expected to contribute to greater energy security of supply for the EU and Egypt, as well as to enhancing the further sustainable development and the transition to low carbon economies.
With this agreement, Egypt and the EU want to develop their relations and cooperation in energy between 2018-2022, based on the following approach: (i) “further assistance to the development of the oil and gas sector; (ii) continued support to the electricity sector reforms; (iii) development of the Energy Hub in Egypt; (iv) further assistance with joint measures and projects in the field of RES; (v); additional support on energy efficiency strategies, policies and measures; and (vi) cooperation in the technological, scientific and industrial areas across the energy field”.
The EU and Egypt will meet regularly at a technical level to follow up on implementing the MoU, including the identification of a roadmap to develop Egypt as an Energy Hub in the Mediterranean.