Egypt

El-Molla: Cairo and Moscow have excellent relations in energy sector

Published on : 2022-02-15

The relations between Egypt and Russia in the energy sector are at a very high level, Petroleum and Mineral Resources Minister Tariq al-Mulla told TASS on the sidelines of the Egypt petroleum show 2022, which is underway in Cairo.

"We have excellent relations in the energy sector. A lot of Russian companies are represented in the oil and gas industries in Egypt. In particular, Rosneft is our partner in the Zohr [gas] field, with a share of 30%. In the oil sector, we effectively interact, for example, with Lukoil. And I hope that this cooperation and the Russian presence will only intensify," the minister stressed.

Speaking about Egypt's plans in the energy sector for 2022, al-Mulla indicated that the republic plans to increase the level of natural gas exports.

"What we export is surplus we have after meeting domestic needs, so we are looking for new markets that will give us more acceptable, higher prices," the official concluded.

EGYPS 2022, which is taking place in Cairo on February 14-16, is attended by the world's leading energy corporations from the UK, Germany, Greece, Italy, China, the UAE and a number of other countries. Russia is represented by more than ten companies and organizations.

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