UK-Scottish companies explore business opportunities in Egypt as the country transitions to net-zero
The UK Department for International Trade (DIT), in partnership with the Scottish Development International (SDI) organized the first virtual energy event to explore business opportunities for UK-Scottish companies in Egypt’s transition to net zero, as part of UK’s endeavour to support Egypt in its energy reform program.
Egypt is the largest non-OPEC oil producer in Africa, as well as the continent’s second-largest natural gas producer. With Egypt currently implementing the Petroleum Sector’s Modernization Project, aiming at sustainable development of the petroleum sector, UK companies are keen to get involved in the many business opportunities presented.
More than 100 attendees joined the webinar, among them the British Ambassador to Egypt, Sir Geoffrey Adams, who delivered an opening speech and a country economic and security briefing.
Egypt’s Undersecretary of the Ministry of Petroleum’s Technical Office, Osama Mobarez, also attended the event and gave an overview of Egypt’s energy priorities. In addition, the CEO of the Egyptian General Petroleum Corporation, Eng. Abed Ezz El Regal participated and highlighted the important opportunities in Egypt’s oil and gas project pipeline.
“I was delighted to join this webinar today and to thank everyone involved in putting it together. I spoke about the direction we have received from the President of Egypt and the Prime Minister of the UK to boost as much as we can the relations between our two countries, not least in the field of trade and investment; and I encouraged UK companies to take advantage of the opportunities here in Egypt, particularly as it reforms its energy markets and heads towards net zero.” Said British Ambassador to Egypt, Sir Geoffrey Adams
The British Egyptian Business Association, the Egyptian British Chamber of Commerce and the Aberdeen & Grampian Chamber of Commerce have all promoted the event to their members alongside the Department for International Trade and Scottish Development International. The event demonstrated the level of enthusiasm amongst the participants from both the UK and Egypt to trigger a new era in Energy Transition.