Egypt's Minister of Petroleum and Mineral Resources Tarek al-Mulla said on Saturday that Egypt will achieve self-sufficiency of petroleum products by 2023.
Addressing the plenary session of Akhbar Al-Youm 7th Economic conference, Al-Mulla said that several Petrochemical projects have been opened, operated, and developed to meet the country's needs until 2040.
He also added that Prime Minister (PM) Moustafa Madbouly witnessed the opening of the shipping line at the New Al-Alamain Oil Port, which is considered a part of the country's efforts to transform Egypt into a regional center for oil and gas trade.
Moreover, the Minister pointed out to Egypt's key role in transforming the Eastern Mediterranean Gas Forum into a full-fledged international organization, stressing that this move represents a significant achievement for regional cooperation in the eastern Mediterranean.
He noted that many countries have applied to join the forum as a permanent observer, including France, the UAE, and the US.
[embed]https://youtu.be/Gg3xC3_lEcw[/embed]
In addition, Al-Mulla reviewed the ministry's most important achievements during the Coronavirus crisis, referring to the sector’s success in achieving 27% of the total Egyptian GDP.
He also added that Egypt has inked about 86 gas and oil deals with more than one country in the world, to support energy and improve its efficiency, as well as reducing the budget deficit and inflation in the petroleum sector.
It is worth mentioning that, the activities of Akhbar Al-Youm 7th Economic Conference kicked off earlier today, with the participation of a galaxy of ministers, senior officials, and businessmen, most notably MP Mohammed Aboul Enein.
The conference is held under the theme of “The Egyptian Economy… Achievements and Challenges in Light of the Coronavirus Pandemic”.
Follow the latest news on Google News
