During the opening of Gastech 2024, Minister of Petroleum and Mineral Resources, Karim Badawi, underscored Egypt’s critical role as a bridge connecting the East, West, and North in the global trade of natural gas and hydrogen. He emphasized the country’s strategic position, supported by its advanced infrastructure, abundant natural resources, and significant renewable energy potential, including solar and wind.

These remarks were made during his keynote speech at the ministerial panel titled “From Mitigation to Adaptation: Navigating Volatile Geopolitics in a Fragmenting Global Order.” Badawi stressed the importance of collaboration and collective action for the optimal utilization of resources, while also highlighting the need to create an attractive economic environment to encourage investments in the petroleum sector and secure funding for carbon reduction projects.

Furthermore, the minister emphasized Egypt’s goal of increasing the share of renewable energy in its energy mix to approximately 42% by 2030, as part of the nation’s sustainable energy strategy. He also underscored the importance of securing a sufficient supply of natural gas for value-added projects.

Badawi addressed the role of technology in maximizing production from existing fields, noting its potential to expedite research and exploration efforts. He also emphasized the importance of regional cooperation, particularly in utilizing Egypt’s infrastructure to receive gas from Eastern Mediterranean countries, liquefy it, and re-export it to European markets.

Moreover, the minister highlighted Egypt’s extensive infrastructure in the petrochemical and refining sectors, which can be leveraged to generate additional value. He reaffirmed the vital role of the energy sector in the Egyptian economy, stressing the government’s commitment to attracting more investments and fostering continuous cooperation between the private sector and government entities.

Badawi concluded by reiterating his commitment to building on the sector’s achievements, with the aim of maximizing the value of Egypt’s natural resources, in alignment with the state’s strategy to enhance added value.