May 29, 2024

Anchorage Investments boosts Egyptian DPs toward Decarbonization

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Anchorage Investments steers Egypt's downstream projects towards decarbonization. Image Source: - Anchorage Investments

Founder and Managing Director, of Anchorage Investments Ltd., – Dr. Ahmed Moharram – has been proudly elected to join the 6th Egypt Petroleum Show (EGYPS 2023)’s panel discussion, titled: “Accelerating Decarbonization and Energy Security through Public Private Partnerships”. 

Industry sources added that the panel focused on discussing the role of PPPs in delivering long-term oil, gas, and energy infrastructure projects also called Downstream Projects (DPs) while examining the investment models that enable governments to achieve energy security without having to increase direct state capital spending.

Industry sources further added that throughout EGYPS 2023’s intriguing dialogue, Moharram unveiled the key challenges facing decarbonization projects, by stating: “New financing solutions are crucially needed to mitigate challenges facing the decarbonization of the oil and gas sector. Public-private partnership model as well can be an effective instrument to leverage the lucrative resources of both sectors, making the transition more feasible and pragmatic.”

Founder and Managing Director, of Anchorage Investments Ltd., – Dr. Ahmed Moharram

Founder and Managing Director, of Anchorage Investments Ltd., – Dr. Ahmed Moharram – inaugurated his talk by saying: “Securing energy sources became a pressing necessity for the whole world, especially in the light of the recent happenings which overshadowed all business sectors. Countries across the globe placed energy projects’ financing and investments on top of their priorities, specifically those concerned with decarbonization and sustainable development. Egypt, in this regard, has exerted sincere efforts in optimizing its non-renewables to secure energy sources, while reducing carbon footprint of the oil and gas sector. Transforming Egypt into a regional energy hub, our nation is striving to revamp its infrastructure and implement mega development projects to best serve this purpose.”

He further elaborated: “PPPs’ decarbonization projects can act as pools availing win-win solutions; as servicing oil and gas projects in the vicinity, attracting pertinent private sector investors, assuaging global public concerns, while catering to aspirations for a net-zero global economy. Strategic partnerships between the public-private sectors can also relieve budgetary constraints on governments, and decouple significant capital and operational investments from standalone projects – starting with carbon capturing, and storage, reaching sequestration.”

Moharram proposed key measures to properly govern PPPs’ action plan, by claiming: “Establishing a strong policy and regulatory framework for fruitful PPPs, can competently achieve decarbonization and energy security goals through providing clear revenue streams, long-term contractual structure, defined sought-after infrastructure, while setting resilient, measurable, and constant performance monitoring, closely linked to payments or penalties.”

H.E. President Abdel Fattah Al-Sisi

Under the auspices of H.E. President Abdel Fattah Al-Sisi, the 6th Egypt Petroleum Show (EGYPS 2023) has been successfully launched, from February 13th – 15th, at the Egypt International Exhibitions Center (EIEC), themed “Finance & Investment in Energy Conference”. Prime Minister – Dr. Mostafa Madbouly witnessed such a groundbreaking event, together with the Minister of Petroleum and Mineral Resources – Eng. Tarek El-Molla, and a number of high-profile State ministers and officials.

Concluding his discourse, Moharram addressed Anchor Benitoite’s decarbonization experience to the esteemed audience, announcing: “Anchorage Investments has long committed itself to optimize its energy-efficiency endeavors through its projects; recently being considered at our Anchor Benitoite project. Located at the SCZone, the USD 2.5b project aims at producing a number of petrochemical products and derivatives that contribute to increased exports, GDP growth, and yielding direct foreign investments. Leading by example, Anchorage Investments is considering various emissions abatement solutions; ranging in complexity, capital and operational costs, and meticulously assessing risks and opportunities within a global economy pledging to reach net-zero carbon emissions by 2050.”

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Also read the articles on: Honeywell, Anchorage Investments partnership unveils Egypt’s petrochemical complex

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