Egyptian Prime Minister Mostafa Madbouly has convened a high-level ministerial meeting bringing together the Ministers of Petroleum, Electricity, and Finance to coordinate an integrated national strategy for energy supply security, grid stabilisation, and the acceleration of renewable energy deployment across the country.
Petroleum Minister Karim Badawi reiterated that securing uninterrupted petroleum product and natural gas supply remains the ministry’s overriding priority, underpinned by a comprehensive plan to accelerate domestic production, bring recent oil and gas discoveries online rapidly, and expand the national petroleum pipeline network. Badawi also outlined refinery development programmes aimed at reducing import costs and ensuring the infrastructure’s readiness to meet rising national demand over the next five years.
Finance Minister Ahmed Kouchok confirmed the availability of required financing for fuel supply security, adding that the ministry is working to attract broader investment into the energy sector as part of an economic recovery programme. These commitments are bolstered by $19 billion in international oil company investment pledges secured over the next three years, including $8 billion from Eni, $5 billion from BP, $4 billion from Apache, and $2 billion from Arcius Energy.
Renewables Target: 45% Clean Energy by 2028
Electricity Minister Mahmoud Esmat presented the government’s roadmap to raise the share of renewables and clean energy in Egypt’s energy mix to 45% by 2028, reducing reliance on conventional fuels. He outlined progress on renewable projects due for completion over the next two years and longer-term initiatives extending through 2040. A new initiative to encourage industrial facilities to install on-site solar generation systems is under development, with a formal launch planned in coordination with other ministries — a measure expected to ease pressure on the national grid and accelerate distributed solar adoption.
Source: egyptoil-gas.com