Discussions during the summit centered on the geopolitical, technological, and economic factors influencing national and international energy security. Participants explored trends shaping global energy security and the necessary tools and approaches to address both traditional and emerging energy security risks. These included shifts in supply and demand, the growth of clean energy technologies and their supply chains, and the availability of critical minerals for various clean energy technologies.
Minister Badawy delivered a keynote address during the
opening plenary session, titled "Mapping the Energy Security Landscape –
Defining a Holistic Approach to Addressing the Energy Trilemma." He
outlined Egypt's petroleum sector strategy, which prioritizes diversifying the
energy mix by increasing oil and gas production alongside greater reliance on
renewable energy sources. The goal is to achieve an optimal energy mix for
Egypt, aiming to raise the contribution of renewables to 42% by 2030.
He highlighted the sector's reform policies, including
modernizing concession agreement terms and introducing a package of incentives
to ensure the sustainability of payments to partners and encourage increased
production through exploration incentives. He emphasized the Egyptian
government's close monitoring of and commitment to resolving any challenges
facing partners, aligning with the government's objective of creating a
competitive and attractive investment climate, particularly in the energy
sector.
He affirmed the petroleum sector's commitment to collaborate
with strategic partners, accelerating exploration and streamlining procedures
to leverage Egypt's potential and boost production for domestic energy
security.
Minister Badawy underscored the importance of energy
security while adhering to environmental and climate commitments. He noted the
Egyptian petroleum sector's balanced approach, combining renewable energy
expansion with carbon emission reduction in oil and gas production. He
advocated for a realistic, equitable, and comprehensive energy transition that
considers the diverse circumstances and developmental needs of all nations.
He also emphasized the pivotal role of regional and
international cooperation in ensuring a secure and sustainable energy future,
highlighting the sector's efforts to establish mutually beneficial partnerships
with energy industry stakeholders to achieve shared interests.
He pointed out Egypt's comprehensive strategy to enhance its
role as a regional energy hub by leveraging its strategic East-West location,
resources, assets, and well-established infrastructure to secure energy
supplies for both Egypt and the wider region.
Minister Badawy showcased key examples of regional
cooperation, including the signing of agreements with Cyprus during EGYPS 2025
to connect the Cypriot Aphrodite and Cronos gas fields to Egyptian liquefaction
facilities. This initiative aims to facilitate the transfer of natural gas from
Cypriot fields to meet domestic consumption and for re-export via Egypt to
Europe, along with interconnection projects with Greece and Italy, and the
signing of cooperation agreements with Saudi Arabia in the field of energy
efficiency.
During his UK visit, the Minister met with Shell Global CEO
Wael Sawan in London. They discussed Shell's Mediterranean drilling and field
development plans, including accelerating the West Meena and Khufu discoveries
in northeast Alamein, and expediting Phase XI of the West Delta Deep Marine
concession.
Discussions also covered the Cypriot Aphrodite field
development, following the Egypt-Cyprus agreements at EGYPS 2025 to link
Aphrodite and Cronos to Egyptian LNG facilities. The meeting further addressed
ongoing cooperation at the Idku liquefaction plant, involving Shell, Petronas,
and TotalEnergies.
The Minister highlighted the Ministry's efforts to enhance natural gas and petroleum product transportation and handling facilities. They explored maximizing Idku's utilization as a regasification facility for LNG imports, to be reinjected into the national grid. This aims to provide a flexible infrastructure for gas import and export, creating added value for the petroleum sector and its partners, and yielding economic benefits for Egypt.