We support the transformation of Egypt into a regional center for trade in gas and oil

Currently, the Bank has supported the Egyptian project to become a regional center for trade and trade in gas and oil, underlining that the bank is providing full support to the project, through the financing of the project. 39 infrastructure and technical badistance and guarantees. In a meeting with Petroleum Minister Tariq Al-Mulla, Mirza said the project is important for securing energy supplies and supporting economic and political relations among the countries contributing to the project. He stressed the importance of partnership and cooperation with international institutions such as the World Bank and the European Union in the coming period, which sees the expansion of the implementation of many gas and oil projects. The minister discussed with Hbadan, according to a press release from the ministry, the cooperation between Egypt and the World Bank as part of its interest to continue the positive developments of the oil sector in various activities and the position of the projects. which contribute to the financing of the bank in the oil field. And stressed the concern of the oil sector to strengthen cooperation with the bank and the opening of new areas of investment in oil sector projects.

In a related context, the experts stated that Egypt has all the necessary infrastructure to transform it into a regional center for trade and energy exchange, with transmission lines and storage areas as well as ports and liquefaction stations.