Egypt's Petroleum Minister participates in global energy conference CERAWEEK in Houston
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, took part in the CERAWEEK global energy conference, held from 10 to 14 March, in Houston, Texas.
Themed 'Moving Forward: Energy Strategies in a Complex World,' this year's event focuses on the challenges of ensuring energy security and supply, advancing the energy transition, and assessing the impact of global political trends and technological advancements on the sector.
Badawi's participation reflects Egypt's ongoing efforts to strengthen strategic energy relations with the United States, enhance regional cooperation, and attract international investments across the entire oil and gas value chain.
As a keynote speaker on the first day, Badawi joined a high-profile panel discussion titled 'Energy Security Challenges: Today and Tomorrow.' He spoke alongside Dan Jorgensen, European Commissioner for Energy and Housing; Fatih Birol, Executive Director of the International Energy Agency; and Leila Benali, Morocco's Minister of Energy Transition and Sustainable Development. The session, moderated by Carlos Pascual, Senior Vice President of S&P Global, explored strategies for addressing global energy security concerns.
During his address, Badawi emphasized Egypt's role as a regional energy hub, connecting the Middle East, Africa, and Europe. He outlined Egypt's priorities in boosting oil and gas production, securing energy supplies, and accelerating exploration and development efforts through partnerships with international companies. He also highlighted the country's recent economic reforms and new incentive packages aimed at creating a more attractive investment climate in the energy sector.
Badawi discussed Egypt's Integrated and Sustainable Energy Strategy, which focuses on achieving an optimal energy mix by expanding renewables while maintaining oil and gas as core energy sources for decades to come. He stressed the significance of regional cooperation and infrastructure sharing, ensuring energy security and competitive pricing.
He also highlighted Egypt's landmark energy agreement with Cyprus and the operators of the Aphrodite and Kronos fields, which allows for the development of Cypriot gas reserves using Egypt's existing gas pipeline infrastructure and LNG export facilities. This agreement is expected to unlock new energy opportunities while serving the mutual interests of all parties. Additionally, he provided updates on electricity interconnection projects with Saudi Arabia and Greece and joint efforts to transport natural gas to European markets.
Beyond oil and gas, Badawi highlighted Egypt's mining sector reforms, which aim to increase its GDP contribution from 1% to 5-6% by capitalizing on the country's vast mineral resources. He noted that modernization efforts in the sector are already yielding positive results, paving the way for further growth.
The minister also underscored Egypt's commitment to the energy transition, detailing various initiatives to reduce carbon emissions and expand clean energy projects. He emphasized the country's focus on low-carbon hydrogen development, energy efficiency measures, and alternative energy solutions, reinforcing Egypt's long-term sustainability goals.
Badawi's participation at CERAWEEK underscores Egypt's growing influence in the global energy landscape, as the country continues to strengthen its regional and international partnerships while advancing its energy security and sustainability objectives.
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