Minister of Petroleum and Mineral Resources Karim Badawi presided over the general assembly meeting of the Egyptian Fajr Natural Gas Company to review its fiscal year results for 2024.

Badawi commended the company’s workforce for their efforts in driving the success, aligning with the ministry’s six-pillar strategy, particularly the first, second, and fifth pillars. These pillars focus on increasing production and expanding drilling and exploration activities to meet the domestic demand of petroleum products, optimizing the infrastructure and leveraging refining and petrochemical capacities to maximize value-added output, and utilizing Egypt’s strategic location to boost regional partnerships.

Badawi also praised the company’s new initiatives in implementing integrated service stations, electric vehicle (EV) charging hubs, and EV maintenance centers, considered Egypt’s first such facilities, noting that these projects deliver significant economic and environmental benefits.

He stressed developing a comprehensive, integrated plan with clear timelines, emphasizing safety, environmental compliance, and community engagement. The ministry pledged full support for these objectives.

During the meeting, Badawi stressed the need for the company to develop a future vision and an ambitious, integrated plan, with specific timetables to be implemented over the next five years and included in the work of future assemblies, affirming the ministry’s readiness to provide all forms of support to the company to achieve this goal.

Badawi also emphasized the importance of adhering to occupational health and safety procedures and preserving the environment.

For his part, Chairman and Managing Director of the Egyptian Fajr Natural Gas Company Ehab Kamal reviewed the company’s financial results for the fiscal year 2024. He noted that the company is working to implement the Ministry’s strategy to exploit assets and maximize integration between sector companies to support the national plan to deploy integrated fueling stations and provide natural gas and electric vehicle charging services as an environmentally friendly fuel.

In this regard, cooperation protocols were signed between Fajr, GasTec, and CarGas to establish integrated service stations. Besides, the company-owned station in the Banafsag area of ​​New Cairo was inaugurated in 2024. Moreover, an environmentally friendly station (electricity, natural gas, and integrated services) is being established in the 6th of October City, which is planned to be completed within six months, as Kamal explained.

He also noted that a solar power generation station has been completed in the parking lot of the company’s administrative headquarters, which has contributed to saving 50% of the company’s electricity consumption. Also, studies are underway to establish electric vehicle charging stations in several areas that are being inspected.

Kamal reviewed the company’s efforts to utilize its resources and capabilities in cooperation and integration with other companies in the sector that face some obstacles in importing natural gas supplies, which has had a significant impact in enhancing the company’s revenues.

In respect of social responsibility, Kamal showcased the company’s initiatives in healthcare, hospital upgrades, and housing rehabilitation programs in underserved communities.

The assembly meeting was attended by Yassin Mohamed, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS) and his deputies; Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC) and his deputies, Amal Tantawy, Deputy Chairman of EGPC for Financial and Economic Affairs; Fouad Rashad, Chairman of the Board of Directors of the Jordanian Egyptian Fajr for Natural Gas and Transmission supply Company; Moataz Atef, Undersecretary of the Minister’s Technical Office and the Ministry’s Official Spokesperson; Walid Lotfy, Chairman and managing Director of Petrojet; Wael Lotfy, Chairman and CEO of Enppi; Yasser Salah, Chairman and Managing Director of GASCO, Mona Thabet, and representatives of the Ministry of Finance and the National Investment Bank.