Arab Finance: Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi reviewed plans to secure the local market’s energy needs during August, including measures to maintain adequate supplies and provide operational alternatives, according to a statement from the Egyptian Ministry of Petroleum and Mineral Resources.
Madbouly said securing Egypt’s energy needs remains a government priority to maintain sustainable supplies of petroleum products and natural gas across various sectors.
He stressed the need for continued coordination among relevant entities, alongside implementing plans to increase domestic production and accelerate the development of new discoveries.
Meanwhile, Badawi reviewed the progress of different operational scenarios and said the ministry continues to monitor the supply system, raise readiness levels, and respond quickly to developments to maintain stable supplies across sectors.
He added that previously prepared emergency plans, proactive scenarios, and operational alternatives have proved effective in responding to changes, supporting natural gas and fuel supplies, maintaining deliveries to the electricity sector, and meeting the needs of other vital sectors.
Liquefied natural gas and petroleum fuel shipments are arriving regularly to support the continuous operation of electricity networks and power plants in line with summer consumption rates, Badawi said. These efforts are being coordinated with the Central Bank of Egypt (CBE), the Ministries of Finance and Electricity, and other relevant ministries and authorities.
The minister also briefed Madbouly on the outcomes of recent meetings with Egypt’s regional and international partners. Cooperation with major international companies is progressing on gas discovery development projects and connecting them to Egyptian infrastructure.
The projects aim to make greater use of Egypt’s gas infrastructure, support its role as a regional energy trading hub, generate economic returns for participating countries, strengthen regional energy security, and provide additional supplies to European markets.
