During his visit to Germany, Minister of Petroleum and Mineral Resources Karim Badawi participated in the 11th edition of the Berlin Energy Transition Dialogue on the 18th and 19th of March.
While explaining Egypt’s energy sector strategy, he emphasized the importance of diversifying energy sources to ensure sustainability, energy security, and economic growth, highlighting the importance of natural gas as the most suitable transitional fuel with the lowest emissions.
The conference, first inaugurated in 2015 and considered the oldest one in energy transition in Germany, aims to discuss topics related to the changing energy landscape and the transition to clean and renewable energy sources. Its current edition focused on mobilizing investments for energy transition and green growth in emerging and developing countries.
During his speech, Badawi noted that Egypt aims to strengthen its position as a regional energy hub, exploiting its abundant resources of wind, solar, and other clean energy sources.
He pointed out the successful completion of the Integrated and Sustainable Energy Strategy until 2040, which aims to increase the share of renewable energy in Egypt’s energy mix to 42% by 2030. This includes the implementation of several projects, such as solar energy projects and wind power plants in the Gulf of Suez region.
The Ministry of Petroleum and Mineral Resources is working at the national level, in cooperation with the Ministry of Electricity and Renewable Energy, to develop an integrated energy efficiency strategy and launch a national program that includes various energy efficiency activities, as he added.
Badawi also noted that Egypt aims to become a regional hydrogen hub, supported by the development of the national strategy to attract investments and develop pioneering projects in the field of hydrogen generation and production.
He emphasized the importance of regional and international cooperation to expand clean energy projects and build sustainable partnerships to achieve a more prosperous energy future.
On the sidelines of the conference, Badawi met with Robert Habeck, Federal Minister for Economic Affairs and Climate Action, during which they discussed developments held between senior officials from the German Ministry of Economic Affairs and Climate Action and EGAS regarding the completion of contractual terms for leasing the floating gasification unit (Energex Power), preparing to sign the contract soon.
Habeck talked about the possibility of buying gas within the framework of the recently concluded Egypt-Cyprus agreement to transport gas produced from Cypriot fields to Egypt via Egyptian liquification plants, considering the discoveries made in the East Mediterranean region.
The meeting dealt with means of cooperation between the two countries in exchanging expertise and technologies in the field of hydrogen generation and production through implementing joint projects, utilizing Germany’s expertise and infrastructure in that field. The two ministers discussed ways to secure the necessary financing and investments in this regard.
They also discussed cooperation in the field of carbon storage and trading, implementing the provisions of the declarations of intent signed in November 2022 between the two countries in the fields of liquefied natural gas (LNG) and green hydrogen to contribute to securing clean energy supplies, achieving sustainable development, and confronting climate change.
