Egypt qualified to become energy hub linking Caspian region and Europe

Minister Badawi made the remarks on the sidelines of Baku Energy Week, an energy exhibition and forum held in Baku, Azerbaijan, from 1 to 3 June.

The minister also said that natural gas “will remain a key part of the global energy mix in the coming period,” alongside the expansion of renewable energy projects and efforts to reduce emissions, supported by Egypt’s location and infrastructure in natural gas, oil refining, trading, storage, and exports.

The ministry has a five-year plan to increase energy production and secure new reserves from existing fields, including drilling more than 100 exploratory wells in 2026 for liquefied natural gas (LNG). Egypt aims to meet demand of around 6.2 billion cubic feet per day, while current domestic gas production stands at about 4.1 billion cubic feet per day.

In related developments, the minister met Turkish Energy and Natural Resources Minister Alparslan Bayraktar to strengthen cooperation between government institutions, companies, and the private sector, and to increase Turkish investment in Egypt’s petroleum, natural gas, and mining sectors.

Both sides also discussed plans to enhance cooperation in exchanging technical expertise and modern technologies to support development plans, bolster investments, and add value to natural resources. No timeline or project details have been disclosed.

This aligns with a shared goal of strengthening economic ties and raising bilateral trade to $15 billion in the coming years.