The Supreme Committee for Turning Egypt into an Energy Hub has had its first meeting in which it discussed setting a strategy to transform the country into an energy regional hub.
Being a hub will give Egypt an economic added value and will support economic development operations in order to attract more foreign investments, especially as Egypt has the potential to be one of the major energy countries in the region, reported Petro-Press.
The Head of the Energy Hub Team, Amira El Mazni, stated that the plan includes 3 stages to turn Egypt into a hub. The first stage is identifying work scope, preparing reports that sets track, and studying all the options. The second phase includes the formulation of the work strategy to empower Egypt to be a trading hub for oil and gas, while the third phase is revolving around setting an executive plan and work program based on schedule, and providing the operational and logistic consultancy to overcome any barriers.
El Mazni pointed out that the newly issued investment law, and the gas regulatory law that is under discussion by the Parliament, will give flexibility that helps in taking actual measures.