Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has stated that Egypt is steadily reinforcing its position as a leading regional energy hub by advancing strategic partnerships with world giants and accelerating natural gas exploration and production activities.
This is in line with the state’s vision to maximise the value of national resources and strengthen regional integration across the Eastern Mediterranean.
The minister statement came as he had a meeting on Wednesday with Head of Integrated Gas Operations at Shell, Mr Cedric Kremers, in the presence of Dalia El-Gabry, President of Shell Egypt, and a number of officials from the ministry, to discuss ways of further strengthening ongoing co-operation in the natural gas sector.
During the meeting, the minister emphasised that the partnership with Shell represents a qualitative leap in supporting Egypt’s efforts to accelerate exploration and production of natural gas, through an ambitious work programme being implemented by the company in Egypt, aimed at increasing domestic production and reducing the gas import bill.
He further highlighted the importance of this co-operation in light of the landmark intergovernmental agreement to accelerate the development of Cyprus’s Aphrodite gas field and its linkage to Egyptian infrastructure, with the participation of Shell and Chevron.
He noted that this step further consolidates Egypt’s role as a regional hub for gas trade and opens broader horizons for co-operation between Egypt, Cyprus, Greece, and other partners, while maximising the utilisation of gas resources, infrastructure, and Egypt’s strategic geographical location for mutual benefit.
The minister also stressed the government’s continued commitment to the timely payment of dues to partners, as a clear message of seriousness in fostering an attractive investment climate and encouraging further investment in exploration and production activities.
For his part, Mr Cedric Kremers affirmed that the achievements in increasing production in Egypt have reinforced Shell’s confidence and commitment to expanding its investments and implementing ambitious operational programmes, noting that Egypt remains one of the company’s key success markets.
He also congratulated the minister on the Aphrodite gas field agreement, commending Egypt’s constructive engagement with all stakeholders to advance the project.
He further expressed appreciation for the steps being taken to maximise the utilisation of the Idku LNG complex, stressing Shell’s positive outlook for Egypt’s LNG sector amid growing regional interconnectivity and ongoing efforts to optimise the use of Eastern Mediterranean gas resources.
