RE: Its that day again.28 Feb 2024 10:08
The Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, participated in the Egypt Petroleum Fair (EGYPES) ββ2024, held at the Egypt International Exhibition Centre, from 19 to 21 February. Under the theme βDriving Energy Transition, Security and Decarbonizationβ, the event, supported by the Egyptian Ministry of Petroleum and Mineral Resources, attracted more than 35,000 participants and 2,200 delegates, covering all energy supply and value chains. EGYPES 2024 provided an enabling environment for comprehensive discussions on global energy dynamics, the latest industry trends, regional progress and collective action to achieve net-zero emissions. During his participation in the panel discussion on βEnsuring Sustainable and Affordable Energy for Allβ, Minister Francisco Monteiro shared Timor-Leste's perspective on the challenges and opportunities in energy security. He highlighted the importance of careful decisions and the adoption of new technologies for the decarbonization of the oil and gas sector. The Minister emphasized that Timor-Leste intends a future in which solar energy and other renewable sources play a significant role in the country, despite the current predominance of hydrocarbons and natural gas in national energy sources. Minister Francisco Monteiro also outlined the country's efforts in drafting legislation for mining activities, aiming to categorize strategic and critical minerals to maximize benefits throughout the value chain. He further explained that the objective is to develop the industry from extraction to refining and industrialization, in order to ensure sustainable growth and economic prosperity. On the side lines of EGYPES, Minister Francisco da Costa Monteiro met with his Egyptian counterpart, Tarek El-Molla, to discuss possibilities for cooperation in the oil and gas industries. Both ministers explored potential areas of collaboration, including exchanging experiences and best practices in the sector. One of the main results of the meeting was the invitation extended to Timor-Leste's national oil company, TIMOR GAP, EP, to explore opportunities for cooperation and knowledge sharing with Egyptian counterparts. Minister Francisco Monteiro expressed his appreciation for the invitation, highlighting the importance of these collaborations to increase the capacity and skills of Timor-Leste's oil and gas industry. Timor-Leste's participation in EGYPES 2024 made it possible to strengthen international cooperation ties and reaffirm the country's commitment towards a sustainable energy transition and the search for strategic partnerships for the continued development of the energy industry.
Above now on the Gov Web, still no minutes from todays Cabinet meeting, held 0900 local (10 hours ago)