Egypt to become regional centre of energy

Minister of Petroleum and Mineral Resources Tareq el Molla said Saturday Egypt will be a regional center of energy from oil and natural gas.

In a press conference, the minister added that the power crisis in Egypt came to an end, thanks to the imported liquefied natural gas (LNG).

Debts to foreign partners were reduced in a step meant to assure foreign partners and encourage more investments into the Egyptian market, he pointed out.

Egypt is working hard to increase the output of oil and minerals, he pointed out.

The ministry is seeking to increase the number of gas and oil exploration agreements, the minister said.

Source: AFP