Written by: Fatima Younis
Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, emphasized that regional partnership and integration represent two fundamental pillars for enhancing energy security and achieving the optimal exploitation of gas and petroleum resources, noting that Egypt adopts a proactive approach to facilitate the flow of supplies to global markets and enhance their stability amidst rapid changes.
Statements during a ministerial session at ADIPEC 2026
This came during the Minister's participation in the ministerial session titled "Energy Security is an Integral Part of National Security," as part of the activities of the Abu Dhabi International Petroleum Exhibition and Conference "ADIPEC 2026." The Minister stressed that securing the needs of the local market is at the forefront of the state's priorities.
Strategic shift in foreign partners' dues
Badawi addressed Egypt's success in achieving a strategic turning point to enhance investor confidence, after reducing the dues of foreign partners from approximately 6 billion dollars in June 2024 to "zero" by June 2026, which has created an attractive environment to intensify research and exploration activities and accelerate field development.
Promising exploration indicators
The Minister reviewed the most prominent exploration indicators, led by the "Dennis" discovery achieved through cooperation between "Eni" and "BP," with resources estimated at approximately two trillion cubic feet of gas, with production targeted to start in 2028, in addition to continuing work in the "Narjis" area in cooperation with "Chevron" and "Eni," and building on the success model of the "Zohr" field.
Infrastructure ready for regional cooperation
On the level of regional cooperation, the Minister highlighted the high readiness of Egyptian infrastructure — including petrochemical complexes, refineries, gas liquefaction plants in Damietta, and gasification vessels — to receive, process, and re-export Cypriot gas, considering the "Cronos" project a practical model for regional integration.
Gulf partnerships and logistical projects
The Minister pointed to extensive partnerships with Saudi Arabia, the United Arab Emirates, and Gulf countries to develop facilities at "SUMED" port, and cooperation with the Emirate of Fujairah through the "Fujairah Al-Alamein" company for the storage and trading of petroleum products to logistically link the Red Sea and the Mediterranean.
A pivotal role through the East Mediterranean Gas Forum
The Minister of Petroleum concluded his speech by emphasizing the continuation of Egypt's pivotal role through the East Mediterranean Gas Forum and the diversification of supply sources, praising the technical and executive capabilities of Egyptian companies that have enabled them to expand in implementing energy projects beyond borders in the African continent and European markets, such as the Romanian market.
