As part of efforts to enhance Egypt’s role as a regional energy hub, Minister of Petroleum and Mineral Resources, Karim Badawi, participated in the ‘Future of Energy Security Summit’ in London, where he was invited by the International Energy Agency (IEA) and the UK Government.
The Minister outlined Egypt’s strategy to diversify its energy mix, increasing reliance on renewables to 42% by 2030, attracting investments, and strengthening regional cooperation to secure energy supplies, including gas linkage agreements with Cyprus, Greece, and Italy.
Badawi emphasized the need for a fair and realistic approach to energy transition that considers each country’s unique circumstances and supports global energy security.
The Minister also highlighted Egypt’s commitment to reducing carbon emissions and adopting clean energy technologies, aiming to balance energy security with environmental sustainability through strategic partnerships and initiatives that support long-term sustainability.
On the sidelines of the summit, organized by the International Energy Agency (IEA) in cooperation with the UK Government from April 24 to 25 in London, Badawi met with UK Prime Minister, Keir Starmer and Minister of State for Energy Security and Net Zero, Ed Miliband.
The meeting focused on exploring avenues for joint cooperation between Egypt and the United Kingdom in the energy sector and enhancing regional and international integration to achieve a balanced global energy mix that ensures energy security for all nations. The two sides also discussed opportunities for collaboration in renewable energy, reducing emissions from fossil fuel sources, and financing implementable joint projects based on the existing infrastructure.
Badawi further met with Wael Sawan, CEO of Shell at the company’s headquarters. The meeting focused on Shell’s strategic plans in the Mediterranean, particularly the acceleration of the WestMena and Khufu discoveries, and the progress of Phase 11 of the West Delta Deep Marine (WDDM) project.
They, further explored collaboration on the Cypriot Aphrodite field and its integration with Egypt’s energy infrastructure, as well as maximizing the potential of the Idku LNG plant, a key step toward positioning Egypt as a regional energy hub and delivering added economic value for the country and its partners.
Additionally, Badawi held a meeting with Linda Cook CEO of Harbour Energy, on the sidelines of his participation in the summit. They reviewed the latest updates on the company’s activities in its concession areas in the Mediterranean Sea and the Nile Delta, as well as plans to increase investments in Egypt through expanding exploration activities and acquiring new concession areas in the Mediterranean.
The Minister emphasized the importance of swiftly implementing the technical commitments in the new North West AbuQir area, where Harbour Energy is partnering with bp The discussions also covered the status of the company’s development activities in North Alexandria and the Western Mediterranean
The talks further addressed the importance of utilizing modern digital technologies, including artificial intelligence, to accelerate the development of new discoveries and bring them into production.
Badawi further met with Fatih Birol, the Executive Director of the International Energy Agency (IEA), on the sidelines of the Future of Energy Security Summit. The meeting reviewed the challenges facing the energy sector, with achieving energy security and reaching the optimal global energy mix at the forefront.
For his part, Birol emphasized that energy is the foundation of modern life, and that energy security remains extremely important in our volatile and rapidly changing world, pointing out that without energy security, there will be no economic stability, the problem of energy poverty will remain unresolved, and countries will not be able to achieve their sustainability goals.
