CAIRO: The U.S. Trade and Development Agency (USTDA) has allocated a grant of $959,006 to the Egyptian General Petroleum Corporation (EGPC) to develop a comprehensive plan aimed at reducing methane emissions within Egypt’s petroleum sector. The announcement was made during a formal signing ceremony attended by Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, at the Cabinet Headquarters in the New Administrative Capital.

According to State Information Service Egypt, the grant will be utilized to devise a detailed roadmap with the help of the global consultancy firm, Global S and P. This initiative is a part of a broader strategic collaboration between Egypt and the United States, emphasizing a long-standing partnership across multiple domains. Minister Badawi highlighted the critical nature of addressing methane emissions as part of Egypt’s broader commitment to achieving net-zero emissions and minimizing carbon output.

The project underlines the importance of maintaining the role of fossil
fuels in the global energy framework while ensuring environmental sustainability and energy security. The scope of the grant extends to providing EGPC with the necessary technical assistance for assessing current methane emissions, setting achievable reduction targets, and prioritizing two key projects for immediate action. Additionally, the initiative will explore legislative or policy changes that could further mitigate emissions in the sector.