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Wednesday, 04 March 2026 / 02:03 PM
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Moustafa Madbouly, Minister of Electricity and Renewable Energy Engineer Mahmoud Esmat, and Minister of Petroleum and Mineral Resources Engineer Karim Badawi.
The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the meeting included a review of the latest developments regarding the benefits of savings in renewable energy and petroleum products. It also covered the work plan, scenarios, and various alternatives across the electricity and petroleum sectors to provide equivalent fuel and ensure the stability and continuity of electricity generation. The meeting also addressed ongoing coordination with all relevant state entities to secure electricity supply and guarantee the sustainability and stability of the power grid. It was noted that new renewable energy capacities, amounting to 2,500 megawatts, will be added to the grid before next summer.
President El-Sisi followed- up on enhancing readiness to secure the necessary gas supplies for the electricity sector to address any developments, in light of the ongoing war in the region and its resulting negative economic repercussions and impact on prices, especially petroleum product prices. The President reviewed the government's plan to ensure the availability of petroleum products for the electricity sector and the consistent flow of gas supplies to the national electricity grid so as to achieve a sustainable and stable electricity supply across the country and reduce losses. The President emphasized the paramount importance of preserving secure strategic reserves of petroleum products for various uses, ensuring the necessary gas supplies for the electricity sector in the required quantities, whether for citizen's consumption or productive sectors needs and securing the necessary funding and financial allocations to complete energy sector projects, given that energy security is a fundamental pillar of national security.
The meeting covered developments in Egypt's gas, oil, and condensate production rates, the status of outstanding payments to foreign companies and settlement efforts, the map of discoveries achieved during the past period, exploratory drilling activities, ways to attract related investments, and refining activities. The Minister of Petroleum and Mineral Resources noted a plan to develop and maximize the utilization of existing oil refineries, which will support increased production and added value and reduce the fuel import bill. He emphasized that maintaining safety in projects, verifying asset integrity, ensuring safe operation, and adhering to environmental requirements are among the fundamental and non-negotiable principles of the petroleum sector. He also reviewed the arrangements to Egypt's hosting of EGYPES 2026, which will be held in Cairo on March 30 and April 1, 2026.
The meeting also reviewed a Memorandum of Understanding recently signed between Egypt and Libya concerning cooperation in the fields of petroleum, natural gas, and mining. The MoU aims to establish a new phase of Egyptian-Libyan cooperation in the petroleum sector, encompassing exploration and crude oil refining to maximize added value, develop refineries, and explore cooperation in transporting crude oil and natural gas between the two countries, in light of Egypt's role as a regional energy hub. This also includes exchanging technical expertise, improving production efficiency, developing petrochemical industries, and providing training. Furthermore, it aims to enhance cooperation in the mining sector in mineral exploration and prospecting.
President El-Sisi gave directives for all the
necessary measures to be taken to ensure the full settlement of outstanding payments owed to relevant foreign companies operating in Egypt. This is in addition to intensifying the government's efforts to attract investment to the energy sector, thereby guaranteeing the achievement of the sector's objectives and maximizing its role in development efforts. This includes establishing and equipping a comprehensive infrastructure for receiving liquefied natural gas (LNG) imports and acquiring and operating regasification vessels, in tandem with supporting increased domestic production and strengthening exploration and production activities.
Wednesday, 04 March 2026 / 02:03 PM
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Moustafa Madbouly, Minister of Electricity and Renewable Energy Engineer Mahmoud Esmat, and Minister of Petroleum and Mineral Resources Engineer Karim Badawi.
The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the meeting included a review of the latest developments regarding the benefits of savings in renewable energy and petroleum products. It also covered the work plan, scenarios, and various alternatives across the electricity and petroleum sectors to provide equivalent fuel and ensure the stability and continuity of electricity generation. The meeting also addressed ongoing coordination with all relevant state entities to secure electricity supply and guarantee the sustainability and stability of the power grid. It was noted that new renewable energy capacities, amounting to 2,500 megawatts, will be added to the grid before next summer.
President El-Sisi followed- up on enhancing readiness to secure the necessary gas supplies for the electricity sector to address any developments, in light of the ongoing war in the region and its resulting negative economic repercussions and impact on prices, especially petroleum product prices. The President reviewed the government's plan to ensure the availability of petroleum products for the electricity sector and the consistent flow of gas supplies to the national electricity grid so as to achieve a sustainable and stable electricity supply across the country and reduce losses. The President emphasized the paramount importance of preserving secure strategic reserves of petroleum products for various uses, ensuring the necessary gas supplies for the electricity sector in the required quantities, whether for citizen's consumption or productive sectors needs and securing the necessary funding and financial allocations to complete energy sector projects, given that energy security is a fundamental pillar of national security.
The meeting covered developments in Egypt's gas, oil, and condensate production rates, the status of outstanding payments to foreign companies and settlement efforts, the map of discoveries achieved during the past period, exploratory drilling activities, ways to attract related investments, and refining activities. The Minister of Petroleum and Mineral Resources noted a plan to develop and maximize the utilization of existing oil refineries, which will support increased production and added value and reduce the fuel import bill. He emphasized that maintaining safety in projects, verifying asset integrity, ensuring safe operation, and adhering to environmental requirements are among the fundamental and non-negotiable principles of the petroleum sector. He also reviewed the arrangements to Egypt's hosting of EGYPES 2026, which will be held in Cairo on March 30 and April 1, 2026.
The meeting also reviewed a Memorandum of Understanding recently signed between Egypt and Libya concerning cooperation in the fields of petroleum, natural gas, and mining. The MoU aims to establish a new phase of Egyptian-Libyan cooperation in the petroleum sector, encompassing exploration and crude oil refining to maximize added value, develop refineries, and explore cooperation in transporting crude oil and natural gas between the two countries, in light of Egypt's role as a regional energy hub. This also includes exchanging technical expertise, improving production efficiency, developing petrochemical industries, and providing training. Furthermore, it aims to enhance cooperation in the mining sector in mineral exploration and prospecting.
President El-Sisi gave directives for all the
necessary measures to be taken to ensure the full settlement of outstanding payments owed to relevant foreign companies operating in Egypt. This is in addition to intensifying the government's efforts to attract investment to the energy sector, thereby guaranteeing the achievement of the sector's objectives and maximizing its role in development efforts. This includes establishing and equipping a comprehensive infrastructure for receiving liquefied natural gas (LNG) imports and acquiring and operating regasification vessels, in tandem with supporting increased domestic production and strengthening exploration and production activities.
All rights reserved to the presidency Copyright © 2020
All rights reserved to the presidency Copyright © 2020