On the sidelines of the World Economic Forum "Davos 2022," Egyptian Minister of Petroleum and Mineral Resources Tariq al-Mulla confirmed that energy security is the most important challenge facing the world at present

Data from the Egyptian Ministry of Petroleum revealed that Egypt's exports of natural and liquefied gas increased in the first four months of this year 98% compared to the same period last year to $3.892 billion.

According to the data, the value of Egypt's natural gas exports increased in 2021 by 768.2% to $3.959 billion, compared to $456 million in 2020.

Speaking of Egypt's gas exports to Europe, Mulla said that Egyptian gas exports could not offset Russian exports but might only fill a fraction.

The Egyptian Minister also explained that his country would be able to increase supplies in the medium and long term in the light of the cooperation between the countries of the Middle East through the Organization of Eastern Mediterranean Gas States (OECD), as it had very large gas reserves.