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OAPEC seeks to ensure environment-friendly energy supplies — Al-Loughani

The Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Essa Al-Loughani stressed the importance Monday of balancing transition to clean, sustainable energies against securing traditional energy supplies in a more responsible environment-friendly way.

Speaking to KUNA on Monday on the sidelines of Egypt Energy Show (EGYPES 2024), he said this year’s edition of the annual event has shifted focus from petroleum matters to an encompassing energy theme covering the challenges, solutions and transformations, including the efforts to reduce the carbon dioxide emissions in the oil industry.

Al-Loughani, of Kuwait, extolled Egyptian President Abdul-Fattah Al-Sisi for sponsoring the high-profile gathering being held on February 19-21 under the theme of “Driving Energy Transition, Security and Decarbonization.

Egypes-2024 brought together a large number of ministers, senior officials in charge of the oil sector from the Arab region and beyond, and representatives of international organizations such as OPEC, OAPEC, the African Union and the World Bank, and CEOs of major energy corporations, he noted.

“The large number of attendees gives momentum to the policy-driven technical discussions on energy security and its implications on environment,” Al-Loughani said, noting that OAPEC seizes this opportunity to send a message in this regard.

In a panel discussion of the conference, he talked about three axes; first, the importance of the role of OAPEC member states in the global energy market as main source of fossil fuels, renewable energy and decarbonization.

Second, the need of massive investments to meet the mounting demand for energy and the efforts of OAPEC members in this regard; Third, the possibility of reaching the target of net zero emissions by 2050 through better manipulation of clear energy technologies, phasing out fossil fuels, and transition to renewable energies.

On the fringes of the conference, Egyptian Minister of Petroleum and Mineral Resources Tareq Al-Molla held talks with Secretary-General of OPEC Haitham Al-Ghais on cooperation between Egypt and the Organization in the field of training.

They also discussed the mechanism of the global oil market, according to a press release from the Egyptian Ministry of Petroleum and Mineral Resources.

Al-Ghais, of Kuwait too, stated OPEC’s desire to enroll more workers of Egyptian energy sector in its internship programs and train them at this headquarters in Vienna EGYPES 2024 gathered nearly 35,000 participants from 120 countries and representatives of more than 40 energy companies.

Source: KUNA

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