The Bolivian Minister of Hydrocarbons and Energy, Luis Alberto Sánchez Fernández, invited President Abdel Fattah Al-Sisi to attend the fourth session of the Gas Exporting Countries Forum (GECF), which will be hosted by Bolivia in November. The forum will also be attended by the presidents and heads of government of the member countries.
This came during a meeting with Minister of Petroleum and Mineral Resources Tarek El Mulla at the 19th Ministerial Meeting of the GECF in Moscow.
El Mulla said that Egypt is working, through its membership in the forum, to support the forum’s objectives, including encouraging the expansion of the use of natural gas as a clean source of energy for achieving sustainable development.
He pointed out the importance of promoting investments in the field of natural gas and the implementation of major projects for the development of Egyptian gas discoveries in the Mediterranean or the development and exploitation of the infrastructure of the natural gas industry to support Egypt’s tendency to become a hub for the trading and circulation of natural gas.
The minister stressed that Egypt is currently focusing on achieving its goal of achieving self-sufficiency of natural gas and to stop importing at the end of next year.
During his meeting with the heads of Russian companies Rosneft and Lukoil, the minister discussed the increase in the activity of the two companies in Egypt, especially as the Russian Rosneft will invest in the Zohr natural gas field as a partner of Italian company Eni.
The two sides discussed the investment opportunities available in Egypt in the field of oil and gas exploration, as Egypt looks forward to attracting more investments in this field during the coming period to develop production and reserves through offering global bids and the conclusion of oil and gas exploration agreements with international companies in several regions.