French energy giant TotalEnergies has proposed supplying natural gas from its Cyprus fields to Egypt. The gas could either be liquefied at Egypt’s processing facilities for export or used to partially meet domestic energy needs.

This proposal was discussed during a meeting between Egypt’s Minister of Petroleum, Kareem Badawi, and executives from TotalEnergies and British company Capricorn Energy on Wednesday.

The discussions focused on the companies' current operations in Egypt and their future plans, particularly in light of the recently launched 2024 bid round by EGAS. The bid invites exploration and production across 12 key sectors in the Mediterranean and Nile Delta regions.

Minister Badawi highlighted Egypt’s world-class infrastructure and strategic geographical location, which together bolster its position as a leading regional energy hub.

The minister also introduced a new set of incentives designed to encourage foreign partners to expand exploration, production, and investment in Egypt’s oil and gas sector. This initiative, he noted, is just the first of many steps aimed at improving the country's energy investment climate.

The president of Total Egypt reaffirmed the company’s commitment to growing its partnership with the UAE’s ADNOC. Together, they aim to expand the production, distribution, and export of lubricants and petroleum products across Egypt and Africa.

“We are actively evaluating attractive investment opportunities in Egypt’s latest bid round and identifying the most promising areas for our proposals,” said the president of TotalEnergies.

In a separate meeting with Capricorn Energy, Minister Badawi emphasized the importance of increasing Egypt's reliance on renewable energy. Both parties also discussed investment opportunities in Capricorn’s concession areas, as well as future prospects identified through Egypt’s digital exploration and production portal.