The next iteration of the global summit, COP27, will be held in Sharm El Sheikh this year
Brussels, April 14 - Neftegaz.RU. In a joint statement, European Commission Executive VP Frans Timmermans, Egypt's Minister of Foreign Affairs and President-Designate of the Upcoming UNFCCC COP27 Sameh Shoukry, said they will spare no efforts to deliver ambitious outcomes at COP27, and that the implementation of the pledges and announcements made at
COP26 in Glasgow last year will be the priority.
Timmermans said:
-
Egypt is an ideal partner for developing floated ideas concerning the use of new and renewable energy and hydrogen sources, especially in light of its strategic location in the Mediterranean and the African Continent
-
Egypt, with its giant natural resources, could produce energy that far surpasses its needs, thus export surplus to Europe
-
The EU seeks to replace Russian gas with other energy resources and Egypt can play a key role in this process
They also discussed cooperation framework between Egypt and
the EU on issues to accelerate the transition to
sustainable and resilient,
net-zero emissions economies, including the potential for supporting further renewable energy generation, climate change adaptation and sustainable management of water and other resources in line with Egypt's 2030 Strategy and Climate Change Strategy 2050, as well as the European Green Deal.
Both sides agreed to reinforce cooperation on LNG and
green hydrogen supplies and to develop a Mediterranean Green Hydrogen Partnership encompassing hydrogen trade between Europe, Africa and the Gulf.
From 2000 to 2019,
Egypt’s electricity generation has increased by 148%.
In parallel, there has been a 73% rise in total installed capacity for
renewables between 2011 and 2020.
The Sisi administration wants to grow renewable energy capacity to cover 42% of the
country’s electricity needs by 2030.
Egypt targets to increase the share of renewables in the energy mix to 42% by 2035 with the engagement of all sectors.
