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Sunday, 27 March 2022

Africa energy transition plan to launch at COP 27

Egypt is working on an energy transition plan for Africa alongside the African Union which will be launched during the COP 27 climate summit in November, Oil Minister Tarek El Molla said last week. The minister was speaking during the International Energy Agency’s 2022 ministerial meeting which took place on 23-24 March.

Other things we’re keeping an eye on this morning:

  • Axa plans to set up a micro ins. company: Axa is currently working on the feasibility study and the final decision will likely be decided based on the final version of the Unified Ins. Act, which is currently at committee-level discussions in the House.
  • UK-based SDX Energy announced a gas discovery at an exploration well in its South Disouq concession. The well will start contributing to production in June.
  • US railway equipment provider Wabtec plans to make an offer to supply Egypt with the world’s first battery-powered electric freight trains, which Wabtec unveiled last year. The US railway equipment provider is already supplying the Egyptian National Railway (ENR) with 100 new locomotives at an estimated cost of EUR 248 mn.

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