Dana Gas sponsors Egypt's First Business Summit on Climate Change

The global Summit focused on the dangers of climate change, its repercussions on the planet and on Egypt. It emphasized the importance of a joint public and private sector participation in combating this phenomenon. A number of distinguished international experts and high-level corporate representatives from several countries in the developed and developing world took part, with the aim of raising awareness and exposing companies to best practices on this important subject.

Foremost among these was environmental activist Al Gore, former Vice President of the US, and founder and chair of the "Alliance for Climate Protection", who delivered the keynote address.

Also in attendance was H.E. Eng. Maged George, Minister of State for Environmental Affairs, Mr M. Gamal Moharam, President of AmCham Egypt and Chairman of MGM Financial & Banking Consultants Co., and Mr James Rawley, Resident Representative of the UNDP, and more than 1000 distinguished figures representing governmental agencies, diplomatic mission and influential business leaders.

Dana Gas was the patron of the event and cooperated with the American Chamber of Commerce in all aspects of the organization. In view of the attention that the company pays to environmental issues and sustainable development, Dana Gas was represented by its senior executives, including the Chairman, Mr. Hamid Jafar, the CEO, Mr. Ahmed Alarbeed, and the President of its Egyptian subsidiary, Dr. Hany Elsharkawi. Mr Hamid Jafar delivered the keynote speech, during which he highlighted the importance of companies within the energy sector working together to combat climate change. In particular he emphasized that, although the ultimate solution to the climate crisis will eventually require the phasing out of all fossil fuels and increasingly important contributions from renewable energy sources, the most practical solution today is to promote as much as possible natural gas production, rather than the more polluting oil and coal.

Speaking of the importance of the summit, Mr Jafar said,

"As the Middle East's leading private sector natural gas company, Dana Gas is especially aware of the importance of combating climate change and is constantly working to improve the energy efficiency of its operations. Dana Gas is firmly committed to the Kyoto Principles and to playing an active role in benefiting our environment through a proactive approach to clean emissions solutions and other projects that may help stem the tide of climate change."

"I believe that events such as Egypt's Business Summit on Climate Change, which bring together the major players in a particular country and sector, are particularly important because they present a chance for like-minded individuals and organisations to come together to discuss and develop ever-more successful solutions to the environmental challenges facing us today," Jafar added.

Dana Gas is working under a strategic alliance agreement with Eco Securities and Dubai Multi Commodities Center (DMCC) for the identification and development of Clean Development Mechanism (CDM) projects across the MENA region in particular and globally in general. The partnership aims to bring together the technical, commercial and financial expertise of the participating companies to work towards the goal of reducing the emissions from Oil & Gas and other energy industry sectors in a financially and socially sustainable manner. This unique strategic partnership also puts the UAE at the forefront of regional clean energy development and leads the way for emissions reduction in one of the most carbon intensive industrial sectors.