In a pivotal development for regional cooperation, Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla has shown a strong interest in partnering Egyptian petroleum companies with their counterparts in Yemen.

This intention was highlighted during a meeting with Yemen’s Minister of Oil and Minerals, Saeed Al-Shamasi, at the sidelines of the 12th Arab Energy Conference in Qatar.

The discussion focused on Egypt’s commitment to support collaborative efforts in the oil, gas, and mining industries, framed within the existing agreements between the two countries. The parties explored potential contributions to Yemen’s petroleum agreements, recognising Yemen’s strategic position for oil storage and refining, as well as developing compressed natural gas (CNG) infrastructure, leveraging Egypt’s expertise in this field.

This initiative is set against Yemen’s intricate and challenging political backdrop. Currently, Yemen is governed by the Presidential Leadership Council led by President Rashad Mohammed Al-Alimi. The internationally recognised government is managing the complexities of the ongoing Yemeni Civil War and the Houthi conflict.

Once a cornerstone of its economy, Yemen’s oil and gas sector has been heavily impacted by the conflict. The control of various territories by different groups, including the Houthi movement, has complicated efforts to stabilise and develop the industry. In this context, the proposed cooperation with Egypt symbolises a glimmer of hope for the rejuvenation of Yemen’s vital industry sectors.

Additionally, the meeting included discussions on Yemen’s role in the upcoming Egypt Energy Show (EGYPES) 2024, set to take place in February 2024, indicating a forward momentum in bilateral engagements and regional energy discussions.

Amid the precarious situation, the collaboration between Egypt and Yemen could offer more than economic benefits, potentially aiding in stabilising Yemen’s economy and reconstructing its infrastructure. Nonetheless, the effectiveness of such partnerships will hinge on navigating the ongoing internal dynamics and conflicts within Yemen.

As events progress, the global community observes with anticipation, hopeful that this partnership will not only revitalise Yemen’s oil and gas sector but also contribute to the much-needed peace and stability in the region.