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Petroleum Minister Highlights Gas Investment Opportunities
Egyptian Minister of Petroleum, Kareem El-Badawy, explained that the debt of the petroleum sector has reached 1.6 trillion Egyptian pounds as of June 2026, emphasizing the importance of increasing local production as a safeguard for Egyptian national security. He confirmed that the Zohr field has helped diversify gas sources, noting that production before its exploitation was approximately 4.5 billion cubic feet per day. He also highlighted the significance of new explorations to ensure energy supply security despite rising geopolitical prices. Additionally, he leveraged Egypt's geographical location and the liquefaction plants in Damietta and Edco to enhance self-sufficiency and turn the gas shortage into an investment opportunity, supported by a strong infrastructure that prevents power outages and supports industries.
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