The Egyptian General Petroleum Corporation (EGPC) and Algeria’s state-owned energy giant, Sonatrach, signed a Memorandum of Understanding (MoU) to establish an institutional framework for Egypt’s purchasing Algerian crude oil, according to a statement by the Ministry of Petroleum and Mineral Resources(MoPMR).  According to the statement, the agreement aims to secure the needs of the domestic market and enhance the flexibility and sustainability of the supply chain.

The signing ceremony was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and his Algerian counterpart, Mohamed Arkab, Minister of State, Minister of Hydrocarbons and Mines.

Badawi delivered a speech before the signing ceremony, in which he affirmed that the  MoU reflects the depth and strength of the historic relations between Egypt and Algeria, as well as the rapid development they are witnessing across various fields. He pointed out that this represents an important step toward enhancing regional integration in the petroleum sector.

During his visit to Algeria, Badawi also held a meeting with Arkab to discuss ways to bolster cooperation between the two countries in the oil and gas sectors.

The two ministers underscored Egypt’s and Algeria’s determination to expand their strategic energy partnership, building on the fraternal relations and deep historical ties between the two nations under the leadership of Presidents Abdel Fattah El‑Sisi and Abdelmadjid Tebboune. This cooperation reflects the strength of solidarity between Egypt and Algeria and paves the way for broader collaboration that advances their shared interests.