The Swedish Embassy in Cairo hosted a panel discussion with European and Egyptian policy makers and representatives of the business community to discuss policies, priorities and financial mechanisms to support the energy transition and link Europe and Egypt in this field.
This comes amid efforts by European Union countries to achieve energy security while seeking to reach carbon neutrality.
Sweden’s ambassador to Egypt Hakan Emsgard said: “The demand for sustainable energy in Europe is increasing, and Egypt is in a good position to provide the continent with this energy... This will benefit both sides economically, and will also benefit the climate, as energy can be used more efficiently and sustainably.”
Egyptian Minister of Petroleum Tarek El-Moulla stressed that the geopolitical tensions and fluctuations in the energy market pushed countries to further diversify their energy sources in order to achieve energy security.
He said energy security and energy neutrality were two complementary goals, adding that Egypt aims to play a key role in the flow of global energy trade and to promote a better environment to ensure continued cooperation.
“Egypt has proven that it possesses the keys to being a regional hub for gas and oil through its strategic location, well-established energy industry and strong infrastructure,” El-Moulla emphasized.
Head of the European Union Delegation to Egypt Ambassador Christian Berger said: “If we want to offer a green deal for Europe, and make the European Union a model for a just and sustainable transition, we believe we cannot do it alone. We need to invite and help others to do the same. Then, we will be able to really influence the future of our world.”
