Egypt: Madbouly reviews fuel supply plans amid summer demands, regional tensions
Arab Finance: Prime Minister Mostafa Madbouly held a meeting to review Egypt's readiness to secure sufficient supplies of petroleum products and natural gas, particularly for the electricity sector, ahead of peak summer consumption and amid heightened regional tensions following the Israeli military operation in Iran, as per a statement.
The meeting was attended by the Governor of the Central Bank of Egypt (CBE) Hassan Abdalla, the Minister of Electricity and Renewable Energy Mahmoud Esmat, and the Minister of Petroleum and Mineral Resources Karim Badawi.
Madbouly confirmed that the government has a clear action plan to ensure uninterrupted fuel and gas supplies to all sectors, with a focus on meeting the rising demands of power generation during the summer.
He stated that Egypt aims to have three floating storage and regasification units (FSRUs) operational by early July with a combined capacity of 2,250 million cubic feet per day, more than double last year's capacity. Plans are also underway to secure a fourth FSRU as a strategic reserve.
He directed the Ministry of Petroleum to expedite the commissioning of the three FSRUs, referring to existing contracts for gas shipments and mazut fuel reserves as part of the broader strategy to stabilize the supply of petroleum products.
Moreover, Esmat affirmed ongoing coordination with the Ministry of Petroleum to ensure adequate fuel supplies for power plants.
As part of these efforts, Badawi conducted an inspection visit to the national control Center at GASCO to review the status of the national natural gas grid and assess its ability to meet summer electricity demand.
During the visit, the officials reviewed operational plans, available gas volumes, and supply scenarios to maintain stable gas pressure and provide sufficient fuel for expected electricity loads.
Esmat also met with electricity sector leaders to ensure grid stability, optimize fuel use, and direct distribution companies to maintain high alert levels and 24-hour monitoring in coordination with national and regional control centers.
Meanwhile, Badawi reviewed current gas production and strategic stocks of gasoline, diesel, butane, and mazut.
He also reported on the arrival of the third LNG regasification vessel at Ain Sokhna Port and confirmed that its integration into the national grid is underway.
The vessel is a key addition to Egypt's regasification infrastructure, aimed at enhancing the flexibility and security of gas supply.
The petroleum sector continues to monitor fuel availability in real time, working closely with the electricity sector to ensure sustained supply and prevent service disruptions.
The minister stressed the importance of maintaining a robust strategic stockpile of fuel during this period of regional uncertainty.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Morocco's Wafa Assurance to take over Egypt's Delta Insurance
Wafa Assurance has agreed to acquire a majority stake in Egypt's Delta Insurance from its current owner Egypt Kuwait Holding Company, as it targets an expansion of its operations in the Egyptian market, it said on Monday. Wafa Assurance, a subsidiary of Morocco's top lender Attijariwafa Bank, offered a price of 40 Egyptian pounds per share in a deal that values the Cairo-listed company at 925 million dirhams ($100 million), it said in a statement. Egypt Kuwait Holding Company, which holds 63.39% of Delta, has agreed to tender its entire stake under the terms of the offer, Wafa Assurance said. The deal is pending the approval of Egypt's Financial Regulatory Authority, it said. Casablanca-listed Wafa Assurance already operates in Egypt's life insurance market through its subsidiary Wafa Life Insurance Egypt. It said the acquisition would expand its operations in a fast-growing market with strong growth potential. (Reporting by Ahmed Eljechtimi; Editing by Jan Harvey)
Zawya
2 hours ago
- Zawya
Smart Africa &Tradefairs International announce strategic partnership to host annual high-level meetings at Cairo ICT ‘25
Cairo, Egypt – Tradefairs International, organizer of Cairo ICT, the leading international technology exhibition and forum for the Middle East and Africa, announced a strategic partnership with Smart Africa, the leading Pan-African organization concerned with accelerating sustainable socio-economic development and, ushering Africa into a knowledge economy through the usage of ICT. This partnership was formalized by signing an agreement to host Smart Africa's Annual High-Level Meeting during Cairo ICT 2025, on 16–19 November 2025 at the Egypt International Exhibition Center (EIEC). The agreement reflects a shared commitment to accelerating digital transformation and fostering innovation across the African continent. The high-level meeting is expected to bring together ministers, policymakers, regulators, industry leaders, and development partners to shape Africa's digital future through collaboration and strategic dialogue. Cairo ICT and Smart Africa have enjoyed a strong and evolving relationship since 2014. Over the past decade, the two entities have collaborated on initiatives to promote regional integration, digital inclusion, and policy harmonization, advancing connectivity and socio-economic development throughout Africa. "Our collaboration with Smart Africa represents a milestone in unifying Africa's digital vision', said Ossama Kamal, Chairman and CEO of Tradefairs International. 'Hosting the Annual High-Level Meeting during the 29th edition of Cairo ICT 2025 is a testament of Egypt's position as a regional hub for innovation and cooperation', he added. This partnership further fosters the outlook to Cairo ICT as a premier regional platform for discussing technology innovation in the AI era, enabling dialogue between public and private sectors, and forging strategic partnerships that support Africa's digital transformation agenda. 'This partnership is a timely and strategic boost to our mission of driving Africa's digital transformation,' said Lacina Koné, CEO of Smart Africa. He further stressed that the partnership provides a vital platform for governments, the private sector, and development partners to exchange ideas, forge partnerships, and co-create solutions that will shape the continent's digital future.
Zawya
2 hours ago
- Zawya
ICC to showcase global building safety expertise at Big 5 Construct Egypt 2025
Egypt – The International Code Council (ICC), a global leader in building safety and construction standards, is set to participate in the 7th edition of Big 5 Construct Egypt, scheduled between June 17–19, 2025, at the Egypt International Exhibition Center. With more than 350 exhibitors from over 20 countries, Big 5 Construct Egypt will spotlight the latest innovations shaping the future of construction in the region. The event is held under the patronage of H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, and supported by the Egyptian Armed Forces Engineering Authority. Mohammed Amer, Managing Director – ICC MENA, will deliver a presentation titled 'Highlighting the Impact of ICC on Innovative Building Practices in the MENA'. The session will spotlight ICC's growing presence in the Middle East and North Africa, with a focus on the International Codes (I-Codes) and the broader ICC Family of Solutions that are shaping the built environment. Real-world case studies will illustrate how ICC collaborates with governments, developers, and industry professionals to implement international best practices across the region's rapidly evolving construction landscape. Speaking about ICC's participation, Amer stated: 'At ICC, our mission is to support governments and industry stakeholders in implementing internationally recognized codes and standards that enhance safety, resilience, and sustainability. In Egypt and across the GCC, our efforts have played a key role in advancing building regulatory modernization, integrating smart technologies, and strengthening the professional capacity needed to apply best practices effectively.' ICC continues to support the construction sector in Egypt and the wider GCC through strategic partnerships, capacity-building efforts, and advocacy for modern regulatory frameworks. In Egypt specifically, ICC has been engaged in promoting alignment with international best practices to encourage safer and more efficient infrastructure development. About the International Code Council The International Code Council is the leading global source of model codes and standards and building safety solutions. The I-Codes, standards and solutions are trusted worldwide to ensure safe, affordable and sustainable communities and buildings. More information about ICC MENA: Middle East Media Enquiries should be directed to AllDetails: Diane D'costa, Senior PR Account Manager Email: Chamodi Gunawardane, Junior PR Account Manager, Email:
