Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi said Egypt has the capabilities to become a hub connecting the Caspian Sea region and Europe in the energy sector, citing its strategic location and advanced energy infrastructure, as per a statement.

Badawi made the remarks during a high-level ministerial session at Baku Energy Week in the Azerbaijani capital from June 1st to 3rd, which brought together ministers, senior officials, and energy sector decision-makers from around the world.

He said Egypt’s infrastructure across natural gas, oil refining, trading, storage, and export activities strengthens its position as a regional center for energy trade and commerce and supports its ability to connect energy-producing and consuming markets.

The minister highlighted the importance of gas infrastructure integration projects in the Eastern Mediterranean, describing them as a successful example of regional cooperation that delivers mutual benefits. He said such projects help maximize the use of existing resources and infrastructure while supporting regional energy security and ensuring sustainable energy supplies to different markets.

Badawi said the Ministry of Petroleum is pursuing a strategy focused on increasing production from existing fields, accelerating exploration and development activities for new discoveries, and maximizing the value of oil and natural gas resources through expanded refining, manufacturing, and storage operations.

He added that natural gas will continue to play a significant role in the global energy mix alongside the growth of renewable energy projects and efforts to reduce emissions.

Badawi also stressed the importance Egypt places on strengthening regional and international cooperation and exchanging expertise in the oil and gas industry, noting that such efforts support the country’s ambition to expand its role as a regional energy hub.