Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held talks with Russian Energy Minister Sergey Tsivilev on strengthening cooperation in the oil, gas, and mining sectors.
On the sidelines of the 8th Summit of the Gas Exporting Countries Forum (GECF) in Moscow, Badawi addressed exploring new opportunities for cooperation in mining.
He also reaffirmed Egypt’s support for the “Moscow Declaration,” a draft proposed by the 28th GECF Ministerial Meeting for adoption at the summit. This reflects the role of natural gas in ensuring energy security and driving sustainable development, while boosting long-term investment to maintain reliable gas supplies.
The talks also covered improvements in Egypt’s oil and gas business climate, particularly the full settlement of outstanding dues to investment partners and efforts to offer new, attractive opportunities for gas exploration.
As for the mining sector, the Russian side expressed interest in long-term projects in Egypt. Hence, Badawi proposed identifying specific projects and establishing a technical communication channel between the Mineral Resources and Mining Industries Authority (MRMIA) and relevant Russian entities to advance cooperation in the sector.
Both sides also stressed the importance of establishing a structured mechanism to follow up on the progress of bilateral cooperation across the oil, gas, and mining sectors. They also discussed coordinating their positions ahead of the GECF’s 29th Ministerial Meeting.
