Egypt has called for greater international cooperation to strengthen global energy security, stabilise gas markets and protect energy infrastructure at the eighth Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) in Moscow, according to a petroleum ministry statement on October 27.
Attending the summit on behalf of the president, Egyptian Minister of Petroleum and Mineral Resources Karim Badawi highlighted Egypt’s role in connecting Eastern Mediterranean and African gas resources with global markets.
Badawi said recent international developments had underscored the close links between energy security, national security, political stability and economic development.
He described natural gas as more than a commodity, emphasising its role in industrial operations, electricity generation, fertiliser and petrochemical production, food and water security, job creation and economic growth.
Badawi said natural gas would remain a key component of the global energy mix, helping countries meet their needs in line with their economic circumstances and development priorities while securing reliable and affordable supplies.
The minister stressed that securing demand for gas was as important as securing supply. Producers needed stable, predictable markets to support long-term investment and resource development, while consumers required reliable supplies at fair prices, he said.
He also warned that geopolitical tensions and disruptions to markets and supply chains underscored the need to protect production facilities, shipping routes and critical infrastructure.
Badawi said Egypt viewed natural resources as an opportunity for development, with their value depending not only on ownership but also on effective management, development and the maximisation of economic returns.
He outlined Egypt’s efforts to expand exploration and production, upgrade infrastructure, attract investment and deploy advanced technologies to develop its natural resources and meet domestic energy needs.
Badawi also called for the expansion of value-added industries and stronger integration between the gas sector, petrochemicals and manufacturing to increase the economic returns from natural resources, boost exports, create jobs and support sustainable growth.
He urged the GECF to strengthen its role as a platform for coordinating positions, exchanging expertise, supporting investment and developing cooperation mechanisms to address market volatility and supply disruptions.
On the sidelines of the summit, Badawi held talks with Russian Minister of Energy Sergei Tsivilev. The two sides reviewed investment opportunities in Egypt’s oil and gas sector.
The GECF was established in 2001 and became a formal international organisation in December 2008. It comprises 12 member states: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela.
