Egypt is stepping up efforts to maximise the value of its natural gas resources, backed by a stable investment climate that has attracted new exploration deals and strengthened cooperation with major international energy firms, Petroleum Minister Karim Badawy said Wednesday. Badawy was chairing a roundtable at the Gastech conference in Milan, which brought together Cypriot Energy Minister George Papanastasiou, East Mediterranean Gas Forum Secretary General Osama Mobarez, and executives of leading international energy companies. He said the government has introduced a package of measures, including investment incentives and the settlement of dues to foreign partners, to restore confidence in the sector. Egypt is positioning itself as a regional energy hub, leveraging its strategic location and LNG facilities at Idku and Damietta to receive East Mediterranean gas and re-export it to global markets, Badawy added. The ministry's strategy aims to enhance cooperation with global companies and maximise the use of Egypt's infrastructure to ensure energy security and sustainable growth, he said. The minister underlined that meeting domestic gas demand remains a top priority, highlighting supplies to industries such as petrochemicals, which he described as a driver of industrial growth and value addition to the economy. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
