عربي English Türkçe اردو فارسى
Logo
Latest News
Business

East Mediterranean Gas Forum Achieves Distinct Outcomes

East Mediterranean Gas Forum Achieves Distinct Outcomes
TT
TT

East Mediterranean Gas Forum Achieves Distinct Outcomes

East Mediterranean Gas Forum Achieves Distinct Outcomes

Egyptian Minister of Petroleum Tarek al-Mulla said the East Mediterranean Gas Forum (EMGF) has achieved “distinct outcomes” in regional cooperation among participating states.

“The EMGF is a model for successful regional economic cooperation,” the ministry quoted Mulla as saying during his participation via video conference in the World Economic Forum’s (WEF) Regional Energy Work Group in the Middle East and North Africa (MENA) regions.

Participants reviewed global economic dynamics and their impact on the Middle East region, as well as global investment conditions in light of the current economic conditions.

It was attended by US Secretary of Commerce Wilbur Ross, CEO of UAE’s Mubadala Investment Company Khaldoun al-Mubarak, CEO of the UAE’s Crescent Petroleum Majid Jafar, and WEF President Borge Brende.

More than 60 oil and energy ministers participated in the meeting as well, in addition to several heads of major international oil companies (IOCs) and energy experts.

Mulla briefed participants on the status of global energy markets, especially in Egypt, in light of the geo-economic conditions and the challenges posed by the pandemic.

He shared Egypt petroleum sector’s exceptional work in the past six years in various oil, gas, and petrochemical fields, noting that it has managed to contain the repercussions of the pandemic by adopting several packages for economic reform and development.

The meeting also reviewed the global economic dynamics and their impact on the Middle East and global investment in light of current economic conditions.

The Work Group was launched by the WEF in April, in response to the challenges posed by the coronavirus crisis, which significantly affected the health sector and the economy.

The Cairo-based EMGF was established in January 2019 and aims at coordinating policies on natural gas exploration to attain regional countries’ common interests.

Current members are Egypt, Cyprus, Israel, Greece and Italy. Representatives of other countries, including Palestine and Jordan, are also participating in the meetings.

Most Viewed

 
 
Business

Saudi Arabia World Leader in Road Network Connectivity

The Road Safety and Sustainability Conference is held under the theme “Innovating for Tomorrow”. (Asharq Al-Awsat)
The Road Safety and Sustainability Conference is held under the theme “Innovating for Tomorrow”. (Asharq Al-Awsat)
TT
TT

Saudi Arabia World Leader in Road Network Connectivity

The Road Safety and Sustainability Conference is held under the theme “Innovating for Tomorrow”. (Asharq Al-Awsat)
The Road Safety and Sustainability Conference is held under the theme “Innovating for Tomorrow”. (Asharq Al-Awsat)

Saudi Arabia ranks first globally in road network connectivity and has made significant strides, advancing to fourth place in road quality among G20 nations. These achievements are part of the Kingdom’s ongoing efforts to enhance road safety, which have contributed to a nearly 50% reduction in traffic fatalities.
Saudi Minister of Transport and Logistics, Eng. Saleh Al-Jasser, announced these figures on Sunday, during his opening remarks at the Road Safety and Sustainability Conference under the theme “Innovating for Tomorrow,” attended by over 1,000 experts from 50 countries.
Al-Jasser highlighted that the Kingdom has implemented numerous initiatives to maintain the safety and quality of its road network. These include “the adoption of performance-based contracts to ensure transparency, optimize spending, and improve quality and service standards,” all in line with the objectives of the National Transport and Logistics Strategy under Vision 2030.
At a press conference on the sidelines of the event, acting CEO of the General Roads Authority, Eng. Badr Aldulami, shared that the Ministry of Transport oversees more than 75,000 kilometers of roads, while the Ministry of Municipal and Rural Affairs is responsible for over 115,000 kilometers, totaling nearly 200,000 kilometers designed to meet the highest standards in execution, quality, and safety.
For his part, Eng. Abdullah Al-Mogbel, honorary president of the International Road Federation, emphasized Saudi Arabia’s longstanding partnership with the federation, which includes over 119 member countries. He noted that the Kingdom has co-organized five conferences with the federation, all focused on improving road safety, maintenance, and performance.
The General Authority for Roads’ spokesperson, Abdulaziz Al-Otaibi, noted that road fatalities have decreased from approximately 28 per 100,000 people in 2016 to 13 currently, with a target of reducing this to 5 by 2030. This progress has been achieved by adopting advanced technologies, methodologies, and large-scale projects, including the use of a global AI-powered fleet to survey the entire road network, assessing factors such as cracks, skid resistance, and road strength.
He further noted that the Kingdom aims to preserve the environment through asphalt recycling technologies, which have cut maintenance time by up to 40% and reduced carbon emissions.
The conference, spanning two days, will feature over 130 scientific papers and showcase approximately 27 innovations and modern technologies, focusing on innovative transportation solutions and government policies aimed at reducing emissions and seamlessly integrating green infrastructure to enhance road safety. The event also includes an exhibition featuring 20 entities showcasing the latest developments in artificial intelligence, intelligent transport systems, and sustainable transportation.