Egypt: Badawi discusses boosting oil, gas cooperation with Energean

Zawya

30-07-2025

Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi explored ways to enhance cooperation in the oil and gas sector with Greek company Energean, according to a statement.
In his meeting with Mathios Rigas, CEO of Energean, Badawi discussed expanding the implementation of carbon capture and storage technologies, highlighting the Egyptian-Greek consensus on adopting environmental sustainability solutions and reducing carbon emissions.
Badawi emphasized that Egyptian-Greek relations are witnessing growing strategic cooperation, especially in the energy sector.
He added that the state managed to overcome major challenges in the energy sector despite geopolitical circumstances by increasing research and exploration activities and applying several incentives to encourage international companies to increase investments.
Moreover, Egypt paid great attention to developing the gas sector's infrastructure by diversifying energy sources and securing floating storage and regasification units (FSRUs) to meet the needs of the local market and different economic sectors.
For his part, Rigas hailed Egypt's political and economic stability, which positions it as a strategic and attractive country for investment in the energy sector.
He also expressed his pleasure with the existing cooperation in the company's natural gas production concession areas in the Mediterranean.
The CEO affirmed Energean's interest in expanding partnerships with Egypt, particularly in carbon capture and storage projects, as well as in fertilizer production.
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