Gerard Mestrallet is a well-connected energy industry veteran
Paris France:
French President Emmanuel Macron has appointed former gas company chief Engi as special envoy for a cross-border rail and port project linking the Middle East and South Asia, seen as an alternative to China’s Belt and Road Initiative.
Macron’s office said on Monday that by appointing Gerard Mestrallet, a well-connected veteran of the energy industry, Macron wanted “France to become a key player in the project” and secure French companies’ involvement in the project. The early stages are in the best position.
The India-Middle East-Europe Economic Corridor (IMEC) was launched during the G20 summit in New Delhi in September last year as part of Washington and Brussels’ plans to counter China’s flagship global infrastructure projects.
U.S. and European officials say it aims to connect Middle Eastern countries by rail and connect them to India through ports, helping energy and trade flow from the Gulf to Europe by reducing shipping time, costs and fuel use.
The EU, India, Saudi Arabia, UAE, United States and other G20 partners signed the IMEC MoU.
According to the MoU, IMEC is expected to consist of two separate corridors, an eastern corridor connecting India to the Gulf and a northern corridor connecting the Gulf to Europe.
Participants intend to lay cables for power and data lines along railway lines, as well as renewable energy hydrogen pipelines for electricity generation.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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