Arab Finance: Egypt plans to reinforce cooperation with Cyprus to diversify natural gas supplies and activate the regional gas trading center strategy, Spokesman for the Presidency Mohamed El-Shennawy announced.

The plans were addressed during President Abdel Fattah El-Sisi’s meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi.

El-Shennawy said the meeting reviewed efforts to achieve a breakthrough in the mining sector by transforming the Egyptian Mineral Resources Authority (EMRA) into an independent economic entity.

This also includes signing mineral exploitation agreements with international companies, launching value-added mining industries, and integrating national capital into mineral manufacturing and extraction investments.

On his part, Badawi reviewed the main axes of the ministry’s strategy that focus on production and exploration activities, maximizing the use of petroleum resources through refining and petrochemical plants to maximize the mining sector’s added value.

The petroleum ministry also seeks to expand regional cooperation to attract investments to the oil and gas sectors while maintaining safety, energy efficiency, and reducing emissions.

It continues working with the Ministry of Electricity and Renewable Energy to provide an energy mix that drives Egyptian economic growth and leverages the country’s position in hydrogen production and energy trade.

Highlighting the significant results achieved during the period from July 2024 to June 2025, Badawi outlined an increase in local oil and gas production.

The minister plans to continue developing the gas sector's infrastructure through the introduction of floating storage and regasification units (FSRUs), which will increase regasification capacity from 1,000 to 2,250 million cubic feet per day.

This ensures the flexibility and continuity of gas supplies to all sectors and can address any emergency interruptions in the supply mix.

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