El-Sissi: State Bears Most Energy Costs

President Abdel Fattah El Sisi discussed the country's efforts to develop the energy sector during a dialogue session at the Egypt 2026 Forum. He reviewed the achievements made, including strengthening the electricity transmission network, expanding distribution networks, restoring natural gas production, and ensuring energy supplies for developmental projects, despite global and regional geopolitical challenges and supply chain disruptions. He clarified that the state bears the majority of the energy costs to address the rising prices worldwide, and emphasized that the biggest challenge remains financing the construction and development of energy infrastructure, while also raising public awareness about these circumstances. He underscored the importance of cooperating with the private sector and continuing to implement a plan to increase reliance on new and renewable energy sources to 50% by 2030, noting that all external dues had been settled by June 2026. He pointed out that rising oil prices were among the most significant financial challenges, and outlined the options considered to address the price differences between expectations and reality.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article