Egypt mulls opportunity for integrated Ministry of Energy

Written by
30 May 2024
Egypt mulls opportunity for integrated Ministry of Energy

Proposed merger of petroleum and electricity and renewables ministries would optimise global dialogue and unify sector operations and regulations to drive efficiencies.

The Egyptian Government is exploring the possibility of establishing a Ministry of Energy through a merger of its existing petroleum and electricity and renewable energy ministries with the aim of streamlining industry operations and regulations. 

Speaking at the recent 2024 Invest in African Energy (IAE) Forum in Paris, France, Mohamed Fouad, CEO, Egypt Oil & Gas, Secretary-General of the Egyptian Gas Association, and Marketing and Communications Committee Chairman of the International Gas Union, stated that a unified ministry would “make discussions and open dialogue with international companies much more efficient.” 

The proposed merger reflects the current dynamic shift within the country’s energy sector as the government looks to accelerate the penetration of clean energy into its historically gas-weighted mix. Fouad told the audience: “We are increasing and putting a lot of investments in renewable energy and clean energy while investing a lot within nuclear energy. We see the dynamics of creating a balance in our energy mix to be in favour of the country and the region.” 

Speaking at an energy forum in February, Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources revealed that the government is looking to increase its 2030 renewables target from the current goal of 42 per cent to 60 per cent.  

El Molla confirmed that Egypt is working on utilising its natural gas resources in tandem with diversifying renewable energy sources and pursuing carbon emissions reductions.  

The government has launched a national hydrogen strategy and supporting governance framework with El Molla highlighting potential for the Eastern Mediterranean region with its proximity to key shipping routes. The Ministry of Petroleum and Mineral Resources, in partnership with the Suez Canal Authority, has identified locations for future green ammonia factories.  

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