Egypt and Russia discussed potential cooperation in oil, gas, and mining during recent energy talks, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).

This came in a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Russia’s Minister of Energy Sergei Tsivilev on the sidelines of the eighth Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) in Moscow.

The two sides reviewed investment opportunities in Egypt’s oil and gas sector, including the government’s efforts to improve the investment climate following the settlement of outstanding dues to investment partners and the continued promotion of opportunities in natural gas exploration.

On mining, the discussions addressed Russia’s stated interest in long-term mining projects in Egypt. Badawi proposed identifying specific projects and establishing a technical communication channel between Egypt’s Mineral Resources and Mining Industries Authority (MRMIA) and the relevant Russian entities.

The ministers also discussed coordinating their positions within the GECF ahead of its 29th Ministerial Meeting. Badawi reaffirmed Egypt’s support for the Moscow Declaration, submitted by the forum’s 28th Ministerial Meeting to the eighth summit for adoption.

The declaration reaffirms the role of natural gas in energy security and sustainable development, the sovereign rights of producing countries over their natural resources, and the need for adequate long-term investment to secure gas supplies.

The GECF is an international intergovernmental organization that has gathered every two years since 2011 for natural gas-producing and exporting countries to discuss market developments, energy security, supply and demand, liquefied natural gas trends, and investment needs.

Its members include Russia, Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Trinidad and Tobago, the UAE, and Venezuela.