Minister of Petroleum and Mineral Resources Karim Badawi met with George Papanastasiou, Cypriot Minister of Energy, Commerce, and Industry, in Nicosia. Senior representatives from Eni and TotalEnergies also attended. The discussion focused on the progress of Cyprus's Cronos natural gas field, which is scheduled to be linked to Egypt's energy infrastructure by 2027.
BG International Limited, an affiliate of Shell plc (Shell), has made a final investment decision to develop the Mina West gas discovery in Egypt's Mediterranean Sea. Accordingly, Shell (holding 60% stake) will operate the field alongside partner, KUFPEC Egypt Limited (KUFPEC) (holding 40%), working in close collaboration with the Egyptian Natural Gas Holding Company (EGAS).
TotalEnergies has entered into a strategic partnership with Aspen Technology, a business of Emerson, aimed at deploying advanced digital solutions across its industrial sites. These solutions will help in leveraging the efficiency of real-time data collection leading to improved operational efficiency, reduced energy consumption, and enhanced environmental performance.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with ambassadors at the Ministry of Foreign Affairs headquarters, emphasizing his full commitment to collaborating with them to attract foreign and expatriate Egyptian investors, and to open new avenues for Egyptian companies' international expansion.
President Abdel Fattah Al-Sisi held a meeting with Prime Minister Mostafa Madbouly, and Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed the state's efforts to secure citizens' needs for petroleum products and provide natural gas to various state sectors, especially the electricity sector. Discussions also covered updates on exploration activities and added petroleum reserves.
Minister of Petroleum and Mineral Resources Karim Badawi met with William Lin, Executive Vice President of bp Global for Gas and Low-Carbon Energy Affairs, along with other bp officials, to discuss the company’s new plans to invest in the development and production of natural gas in Egypt. During the meeting, Minister Badawi emphasized the importance of the partnership with bp. He also highlighted the need for enhanced cooperation in projects aimed at increasing local natural gas production, reducing import costs, and encouraging further investments in the sector. The meeting also addressed the company’s upcoming exploration plans in its Mediterranean concession areas.
Prime Minister Mostafa Madbouly held a meeting with some officials including Minister of Investment and Foreign Trade, Hassan El-Khatib to follow up on efforts to promote investment in the gold sector. The Prime Minister reaffirmed the government’s commitment to supporting investments, especially in gold, by providing more incentives and facilitations to attract investors to the mining sector and boost its contribution to the national economy. El-Khatib reviewed a number of proposals aimed at enhancing Egypt’s gold investment capabilities, enabling the country to meet international standards and practices in mining and gold investment.
The Egyptian General Petroleum Corporation (EGPC) signed a strategic Memorandum of Understanding (MoU) with its partner, the Siemens, DNV, and EnExpert Energy Consortium. It aims to enhance safety levels and improve the efficiency, security, and sustainability of the petroleum pipeline network for crude oil and petroleum product transportation and storage. It also reinforces Egypt's position in transporting and storing petroleum materials and enables the Petroleum Pipelines Company (PPC) to move towards growth and expand its local and regional presence.
Minister of Environment, Yasmine Fouad, submitted her resignation from the government, to pursue the position of Executive Secretary of the United Nations Convention to Combat Desertification (UNCCD). Fouad, a steadfast advocate of climate goals has been in her position since 2018.
Minister of Petroleum and Mineral Resources, Karim Badawi, conducted an inspection visit to the main control center of the national gas grid, the National Advanced Transmission and Automation Centre,(NATA), affiliated with Egyptian Natural Gas Company (GASCO), to monitor the operational status of gas supplies to the electricity and industrial sectors, according to a statement from the Ministry of Petroleum and Mineral Resources. This comes as a part of the ongoing efforts to secure the local market's natural gas needs.
