Capterio chairs decarbonisation discussion with Egypt’s Energy Minister
Capterio’s CEO, Dr Mark Davis, chaired a high-profile panel focussed on decarbonisation within the energy sector today in London and opportunities to deepen collaboration between Egypt and the UK.
On the panel was His Excellency Minister Tarek El Molla, Paul Gibbs (Head of Business Development at Bechtel) and Alan Beere, VP Consulting for EMEA at Wood.
His Excellency Minister El Molla outlined his vision to continue to accelerate the decarbonisation of the oil and gas industry within Egypt, whilst also developing a “new energies” industry. Minister El Molla discussed some of the highlights of his work at COP27 (including a “decarbonisation day”), plus some of the initiatives in Egypt including commitments to the Global Methane Pledge, initiatives to reduce gas flaring, venting and leaking, plus also we touched on operational efficiency, carbon reduction and CCS and Hydrogen (blue and green).
As Mark Davis, CEO of Capterio said: “Your Excellency, your [inclusive] leadership on the what and how of decarbonisation of the oil and gas sector in Egypt and at COP27 has really set the bar for COP28. There is much to celebrate.”
Focus on flaring – a short-term decarbonisation lever
The UK and Egypt have much to share and learn from each other, especially around gas flaring (the UK has reduced flaring by 50% in the last 4 years, for example). Egypt has made some similar progress (see our article “Leadership on flaring in Egypt”). That said, there is still an opportunity to reduce flaring, venting and leaking by up to 4 BCM per year in Egypt. Capterio’s FlareIntel Pro satellite tracking tool uniquely enables the Egyptian government and our clients to identify and prioritise flare reduction opportunities that can increase national revenues, create jobs, increase energy security – whilst also reducing emissions of CO2 and methane.
Equally, it was inspiring to see Egypt’s visionary leadership is also driving on-the-ground action. All panellists commented on the many exciting investment opportunities in country that can help Egypt to continue this journey.
Many thanks to BEBA (British Egyptian Business Association) and our hosts MHA Bakertilly. To find out more about Capterio’s flare monitoring approach, please see our tool FlareIntel Pro.