At the Gastech 2024 conference and exhibition in Houston, Texas, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, highlighted the importance of collaboration in the global energy market. His remarks came during the inaugural ministerial session, “From Mitigation to Adaptation: Navigating Geopolitical Volatility in a Fragmented Global Order,” where he shared the stage with energy ministers from India, Turkey, the United States, and Nigeria.
Badawi emphasized Egypt’s strategic role as a key gateway for natural gas and hydrogen trade across regions. He noted the country’s robust infrastructure and abundant natural resources, alongside a growing emphasis on renewable energy sources, including solar and wind power. “Cooperation and combined efforts are essential for optimal utilization of these resources,” he stated.
He further stressed the need to create a supportive economic environment to attract investments in the petroleum sector, secure funding for carbon reduction initiatives, and enhance the share of renewable energy in Egypt’s energy mix, aiming for 42% by 2030 as part of a comprehensive sustainable energy strategy. Additionally, Badawi underscored the importance of ensuring adequate natural gas supplies for value-added projects.
Addressing technological advancements, he spoke about maximizing production from existing fields and expediting exploration and discovery. He highlighted the potential for regional collaboration to utilize Egypt’s infrastructure for gas reception from the Eastern Mediterranean, facilitating liquefaction and re-export to European markets. He also pointed to the extensive infrastructure in petrochemicals and refineries as a means to create additional value.
Badawi reiterated the energy sector’s vital role in the Egyptian economy and the new government’s commitment to attracting investment and fostering collaboration between private companies and government agencies. He expressed his dedication to advancing the sector and maximizing the value of Egypt’s natural resources in alignment with national goals.
The Gastech 2024 conference, running from September 17 to 20, 2024, has gathered a distinguished lineup of energy ministers and CEOs from leading global energy companies.
