Germany's Verbundnetz Gas probes cooperation opportunities with Egypt

$GARDEN CITY, TX - FEBRUARY 05: Flared natural gas is burned off at Apache Corporations operations at the Deadwood natural gas plant in the Permian Basin on February 5, 2015 in Garden City, Texas. Apache sends an estimated 50-52 million cubic feet per day of natural gas to this plant. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images) , Getty Images/Getty Images$

GARDEN CITY, TX - FEBRUARY 05: Flared natural gas is burned off at Apache Corporations operations at the Deadwood natural gas plant in the Permian Basin on February 5, 2015 in Garden City, Texas. Apache sends an estimated 50-52 million cubic feet per day of natural gas to this plant. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images)
Getty Images/Getty Images

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla held talks with a delegation from the German firm to discuss joint cooperation

Staff Writer, Arab Finance

July 14, 2023

PHOTO
GARDEN CITY, TX - FEBRUARY 05: Flared natural gas is burned off at Apache Corporations operations at the Deadwood natural gas plant in the Permian Basin on February 5, 2015 in Garden City, Texas. Apache sends an estimated 50-52 million cubic feet per day of natural gas to this plant. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Photo by Spencer Platt/Getty Images)

The German natural gas firm Verbundnetz Gas Agbo is reviewing investment opportunities in the Egyptian petroleum sector, according to a statement by Ministry of Petroleum on July 12th.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla held talks with a delegation from the German firm to discuss joint cooperation.

The meeting also tackled the possibility of benefiting from the expertise of the German firm in the fields of renewable energy in Egypt, especially the production, storage, and transportation of hydrogen.

El-Molla expressed his country’s keenness to expanding in low-carbon power generation sources projects.

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