In the name of of Allah the Merciful

His Excellency Mr. Yonas Jar Storeh Prime Minister of Norway            

Ladies and gentlemen in attendance,

At the outset, I am pleased and honored to participate in the inauguration of the first phase of the first project for the production of green hydrogen in the economic zone of the Suez Canal, on the sidelines of the World Climate Summit COP 27.

I take this opportunity to express my sincere appreciation to the Prime Minister of Norway, Jonas Gahr Store, and to pay tribute to Norway's leading role in confronting climate change and dealing with its impacts, which is evident in its political commitment at the highest level to support the action of the green climate and the promotion of the global transition. Perhaps the best evidence of that is our meeting today to inaugurate the first phase of the green hydrogen production project, which represents an opportunity for consultation and coordination between a large group of active countries on the level of negotiating efforts on the various issues facing the confrontation. the parties.

Ladies and gentlemen in attendance,

From this point of view, and in light of the accelerating global interest in renewable energies, and the improvement of technologies for generating electricity from renewable energy sources, which coincided with the increasing global interest in climate change and the rise in fossil fuel prices, and in the context of benefiting from the resources of the exclusive natural resources. The Integrated and Sustainable Energy Strategy in Egypt until 2035, which includes maximizing the participation of renewable energy in the energy mix to reach about 42% in 2035. and the 17 UN Sustainable Development Goals.

The giant project to produce green hydrogen in the Suez Canal Economic Zone is one of the most important geographical locations in the world, as it will enable us to export green hydrogen easily to Europe and various other continents.

Ladies and gentlemen in attendance,

Egypt has taken many measures to enhance the benefit of the huge potential of renewable energies that Egypt possesses, by encouraging the private sector to invest in the field of establishing, owning and operating plants for the production and sale of electricity produced from solar energy, as well as the keenness of any Egyptian state to harness the energy of the wind. for those investments and laying out a roadmap to increase the proportion of those investments in the coming years.

The private sector has gained great confidence in the investment climate in Egypt, and it suffices to tell you that there are many projects being implemented in the field of electricity production from wind and solar energy, which confirms the ability of renewable energy to attract foreign investments and confirms the role of national direct institutions. An investment climate with low risks and positive interaction with financing institutions and development partners.

There is no doubt that electrical interconnection and energy trade play an important role in enhancing energy security. Therefore, Egypt actively participates in all regional electrical interconnection projects and electricity markets, and work is underway on the electrical interconnection line project between Egypt and Greece, where Egypt will be an energy bridge between Africa and Europe.

It is worth noting that the electrical connection between Africa and Europe will work to absorb the huge electrical energies that will be produced from renewable energy sources in Africa. Egypt is keen to support the efforts of African countries to access clean energy from renewable sources, especially in light of what many African countries enjoy from many untapped renewable energy sources, and it is expected that Egypt will be one of the main hubs for transferring clean electric energy to Europe.

Ladies and gentlemen in attendance,

All of these efforts illustrate Egypt's early endeavor to take effective steps to shift to a sustainable development model that is consistent with efforts to preserve the environment and confront climate change, not only because of its belief in the right of its sons and existing generations in a better future, but also for its growth that represents its other opportunities. Promising to achieve economic development in many vital sectors.

In conclusion, I would like to reiterate my thanks to you, and I would like to stress that Egypt will spare no effort to encourage investment in green energy and green fuel projects, as the green transition represents a promising opportunity to achieve economic development in Egypt. In coming up with successful recommendations capable of demonstrating the unity of the international community against an existential threat that we can only overcome through collective action and effective implementation.

Thank you

Peace, mercy and blessings of God,,,

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