Oil Minister Al-Malu: Egyptian exports of gas, derivatives and petrochemical products are expected to boom by the end of 2022.

Egypt’s exports of natural gas, oil derivatives and petrochemical products are expected to boom by the end of this year, according to the statements of Eng. 18-19 billion dollars by the end of this year.

The oil minister said in exclusive statements to Al-Mal that Egypt’s natural gas exports have witnessed a significant recovery and increase over the past two years.

He pointed out that it is intended to increase Egypt’s exports of liquefied natural gas to 8 million tons this year, expecting that Egypt’s revenues from natural gas exports will be between 10-12 billion dollars by the end of this year.

In this regard, he pointed out that there are serious projects that have been implemented to support the gas industry and reduce its emissions, and these projects have a positive impact on the environment, resulting in a reduction of around 1.347 million tons of carbon dioxide.

The list includes 13 projects related to the recovery (Zero Flare) of gases in companies (Qaroun / Agiba / Petrosila / Assiut Oil Refining / ZETCO / Petrosnan / Burj Al Arab / Khalda / Petroshahed / Petrobel), according to Al-Mulla.

The Minister confirmed that these projects achieved the utilization of 40 million cubic meters of gas per day, from which butane gas is extracted, and the operation of generators and combustion plants was paid for instead of diesel, which achieves ecological returns expressed in the reduction of emissions resulting from their burning with torches, and economic return through savings resulting from the use of obtained flared gas In the drive instead of diesel.

The Minister of Oil pointed out that 88 projects to improve energy efficiency were carried out in 31 companies, which achieved a reduction in electricity consumption, improved work efficiency and control of the operating conditions of compressors, furnaces, boilers and steam systems, along with the installation and operation of solar cells in buildings and on fields in 21 companies, capacity 350 W, 1 kilowatt.

Al-Mulla pointed out that the Ministry of Petroleum is currently implementing, through the Supreme Committee for Petroleum Projects, 16 new projects to achieve sustainability and reduce emissions.

He added that these projects are implemented in 13 companies, namely (Al-Nasr Petroleum / Alexandria Petroleum / General Petroleum / Amreya Oil Refining / Cairo Petroleum Refining / Khalda-Qarun / WEPCO / Al-Amal / Agiba / North Bahriya / Petrosilah / Petrosnan).

He said these projects are expected to recover 25 million cubic feet of gas per day and reduce emissions by about 584,000 tons of carbon dioxide.

The momentum created by the holding of COP27 will help accelerate the implementation of projects to reduce carbon emissions

On the other hand, the minister highlighted the success in the establishment of the Eastern Mediterranean Gas Forum, which during the activities of the COP27 climate summit presented its initiative developed for the removal of carbon from the natural gas industry.

He added that this initiative aims to implement an action plan in the forum countries to reduce emissions in various phases of the natural gas industry, including securing financing, technology and building human capacity.

At the level of the Climate Summit, which was held last month in Sharm El-Sheikh, the Minister of Oil confirmed that Egypt gave a strong message to the world with its ability to host and organize the Climate Summit (COP 27), which succeeded in hosting a specialized day on decarbonization among the main topics of activity at the conference.

And the minister continued: During that day, the world listened for the first time to the visions and efforts of the officials of the oil and gas industry and other industries in maintaining the production and supplies that the world needs, as well as in parallel work to reduce emissions.

He pointed out that the Russian-Ukrainian crisis revealed that the world still needs fossil fuels for some time in order for new and renewable energy to meet its needs, and that everyone is responsible for reducing emissions, and that the oil industry has gone global. from its responsibilities and relied on new technologies and scientific progress in managing industry and preserving the environment.

El-Molla said that Egypt has been a pioneer in encouraging the energy transition and increasing the contribution of new and renewable energy in the energy mix used in Egypt, and that it has contributed to securing part of the gas needs for Europe, and that it is moving forward in the implementation of projects production increases and digital transformation projects.

The oil minister confirmed that the momentum created by hosting the climate summit will help Egypt improve and speed up the implementation of its emission reduction projects.

Regarding new projects and renewable energy projects, the Minister of Oil stated that during the COP27 activities, the framework of Egypt’s low-carbon hydrogen strategy was already announced in order to take advantage of Egypt’s important potential in this area that allows it to contribute to meeting the growing demands to achieve of energy security.

A memorandum of understanding was also signed for a strategic partnership with the European Union in the field of green hydrogen, with the explanation that the oil sector signed 7 memorandums of understanding with international companies to reduce carbon emissions.

He said Egypt’s announcement of the low-carbon hydrogen strategic framework is a major step in realizing Egypt’s vision to play an active role globally in the low-carbon hydrogen economy, leveraging Egypt’s new and renewable energy assets and resources. energy, strategic position and Egyptian human resources.

Declaring the carbon removal day 11-11-2022 as an official day during the climate summit, Al-Mulla explained that the belief of the summit administration and what the world witnessed during the Russian-Ukraine crisis and the need for a real dialogue involving all parties was the main reason of the day’s inclusion in the activities of the summit.

Al-Mulla said that this issue provided a great opportunity for all oil and gas companies and other industries to present their real plans, action plans, initiatives and emission reductions as these industries, technologies and solutions work, as it was a wonderful window to show this to the world.

He emphasized the importance of parallel action in securing energy for today and the future to solve the problem of achieving energy security, and at the same time with a reasonable price and initiatives and plans to reduce emissions for the transition period so that new and renewable energy can fully meet the energy needs of development and constant growth population.

Regarding the application of digital transformation in the oil and gas industry, Al-Mulla said that this is one of the most important steps taken by the Ministry of Petroleum and Mineral Resources to achieve best practice for business sustainability in all petroleum activities and to achieve ecological sustainability.

The Minister of Petroleum stated that the Oil Sector Modernization and Development Program has adopted this since its inception in 2016 and has achieved important steps in its march towards the comprehensive implementation of digital transformation, absorbing every development or technology that serves vital objectives. oil and gas industry.