US to Help Egypt Become Regional Energy Hub by Modernizing Petroleum Sector - Trade Agency
The United States agreed to help Egypt modernize its petroleum sector as the nation attempts to upgrade oil production with the goal of becoming an energy hub in the Eastern Mediterranean, the US Trade and Development Agency (USTDA) said in a press release on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 12th February, 2020) The United States agreed to help Egypt modernize its petroleum sector as the nation attempts to upgrade oil production with the goal of becoming an energy hub in the Eastern Mediterranean, the US Trade and Development Agency (USTDA) said in a press release on Wednesday.
"We are delivering technical expertise, expert training and private sector solutions to advance the high-quality infrastructure Egypt can utilize to become a leading energy hub," acting USTDA Director Thomas Hardy said in the release.
The two nations signed a memorandum of understanding to implement the initiative in a ceremony joined by Egypt's Petroleum and Mineral Resources Minister Tarek El Molla and Hardy.
The event in Cairo took place on the sidelines of the EGYPS 2020 Petroleum Show, the largest oil and gas conference across Egypt, North Africa and the Mediterranean, according to the release.