A new Memorandum of Understanding (MoU) for strategic cooperation in energy was signed between Egypt and the EU, the European Commission (EC) announced on Monday.
With Climate Action and Energy Commissioner Miguel Arias Canete signing on behalf of the EC during a visit to Egypt, the new agreement updates the energy sector cooperation between both sides and “fully reflects the EU's priority of implementing a clean energy transition,” the statement read.
To help diversify Europe’s energy suppliers and routes, the EU is actively engaged in an energy dialogue at political level with North African and Eastern Mediterranean partners, in particular with Egypt.
During the visit, the first ever EU-Egypt Sustainable Energy Forum took place on Monday in Cairo in which discussions focused on 'Egypt’s future as an energy hub,' and its potential to boost renewable energy and energy efficiency, the EC noted.
'With today’s [Monday] signing of our joint memorandum, a new era in EU-Egypt relations has started, one which will tap into the immense potential in solar, wind and gas and open up huge investment opportunities,' Canete was quoted as saying.
By Ebru Sengul