“Decarbonization is a core element of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy,” adding that “Building on the success of COP27 Decarbonization Day, we will collaborate with our strategic partners like Chevron to further drive emissions reduction and reduce the carbon footprint of our hydrocarbon resources,” Tarek El Molla, Minister of Petroleum and Mineral Resources, Egypt said.
MOPMR and Chevron will share best practices on methane emissions reduction as part of Egypt’s efforts to align with the United Nations’ Methane Reduction Roadmap launched at the COP 27 Summit in November 2022, the Global Methane Pledge and the country’s climate action strategy.
Chevron and MOPMR started working on the terms and conditions of the MoU in 2022. The MoU follows Chevron reducing its methane emissions from upstream operations by 50% since 2016 and has been present across Egypt’s upstream, midstream and downstream sectors since 1937.
