Arab Finance: The US Trade and Development Agency (USTDA) has signed a grant agreement worth $959,006 with the Egyptian General Petroleum Corporation (EGPC), as per a statement by the Ministry of Petroleum and Mineral Resources.
The grant will fund the development of a detailed roadmap to reduce methane emissions in Egypt's petroleum sector, in collaboration with the global consultancy S&P Global.
The framework of the grant includes providing technical support to the EGPC to identify current methane emission levels and set clear reduction targets with a timeline.
It also involves prioritizing two specific methane reduction projects for implementation, in addition to drafting proposals for internal policies or legislation to lower emissions in the oil sector.