On March 16, 2025, Egyptian President Abdel Fattah El-Sisi convened with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to deliberate on enhancing Egypt's benefits from its gas reserves. The meeting primarily focused on the exploration of gas fields located within the economic zone of Cyprus, particularly the "Kornus" and "Afrodit" areas.
The discussions involved the possibility of transporting gas discovered off the coast of Cyprus to Egypt. According to the official presidential spokesman, this initiative is geared toward utilizing the gas for local consumption or for liquefaction at Egyptian facilities, which would then facilitate its export to the global market.
During the meeting, El-Sisi alongside his cabinet members, also addressed the collaborative frameworks being established between Egypt and Saudi Arabia pertaining to energy. This cooperation stems from commitments made under the memorandum of agreement signed during the Egypt Petroleum Show, "EGYPES 2025," held last February in Cairo.
El-Sisi highlighted the importance of intensifying exploration and extraction efforts to boost Egypt’s oil and gas reserves, particularly referencing new developments such as the "Fayum 5" oil and gas field located in the "King Mariout" region. The Minister of Petroleum also reported on several new agreements established which aim to bolster Egypt’s research and exploratory initiative.
"The meeting discussed cooperation between Egypt and Saudi Arabia on energy issues," stated the spokesman. This collaboration is intended to provide greater efficiency and viability to the energy sector, which is increasingly needed as local demand for oil and gas surges.
El-Sisi reiterated the need for all necessary incentives to accelerate development and intensify production and exploration operations. He emphasized the urgency of fulfilling obligations to foreign oil and gas companies operating within Egypt's borders, as meeting these commitments encourages increased local production.
Also discussed were the preparations being made for the upcoming summer season. Karim Badawi stated, "The preparations being made to receive the summer season are to assure citizens' needs are met," underscoring the Egyptian government’s proactive measures to boost the strategic stockpile of petroleum products.
The focus on local production is seen as pivotal not only for national energy security but also for maintaining and enhancing Egypt's strategic reserves as domestic consumption rises.
Notably, Egypt has recently announced several new oil discoveries, including significant finds such as the King Mariout and Fayum 5 sites, contributing to the national drive for increased exploration and production. The government connects these advancements to its adherence to commitments with foreign partners, as past obligations had previously sidetracked growth within the sector.
El-Sisi’s administration aims to make Egypt a central hub for natural gas trade by capitalizing on the region’s wealth of resources. The ambitions to integrate discovered gas from Eastern Mediterranean ventures to support local markets and re-export to Europe signify the strategic importance of these developments.
Overall, the meeting held on March 16 articulates Egypt's commitment to enhancing its energy capabilities through collaboration, exploration, and innovation. By leveraging its geographic advantages and fostering international partnerships within this sphere, Egypt is positioned to address both local energy demands and contribute to regional stability.