Minister of Petroleum and Mineral Resources Karim Badawi announced that recent government measures, topped by offering investment incentives to partners and ensuring the timely payment of their dues, have successfully halted the decline in natural gas production caused by slowed investments, stabilizing output levels and paving the way for gradual increases.
Badawi noted that these efforts have saved the state an estimated $3.6 billion in fuel import costs for the 2024/2025 fiscal year, thanks to higher domestic production levels, evidence, he said, that the sector is on the right path toward sustainable output growth.
The announcement came during the minister’s regular meeting with senior officials from the petroleum and mineral resources sector and chairpersons of affiliated companies, held at the headquarters of the Egyptian Natural Gas Company (GASCO).
The meeting focused on reviewing recent achievements, outlining future priorities, and identifying areas requiring support to increase production, optimize resource utilization, and address ongoing sector challenges.
In a statement released Friday 15/8/2025, the Ministry of Petroleum highlighted the positive outcomes of its recent strategy implementation.
Badawi expressed his appreciation to sector leaders, field workers, and company teams for their commitment and contributions.
The Minister also praised the successful development of LNG import infrastructure, highlighting a robust regasification system, with a capacity of 2.25 billion cubic feet per day, supported by a fleet of specialized vessels.
“The project, executed by 1,500 workers from various sector companies, provides a critical safety net for Egypt’s energy supply, ensuring resilience in the face of potential gas supply disruptions,” he further noted.
Badawi affirmed that the petrochemicals sector continues to expand, with a significant portfolio of existing and new production projects offering strong economic and environmental returns.
These projects are spearheaded by the Holding Company for Petrochemicals, with additional initiatives currently being advanced to the implementation stage, he added.
Turning to mining, the minister described the transformation of the Mineral Resources Authority into an economic entity as a pivotal step aimed at increasing the sector’s contribution to GDP from less than 1% to 6% within three years.
Addressing company chairpersons, Badawi stressed the importance of leadership accountability, efficiency, and innovation.
He highlighted a new package of delegated authorities granted to company heads, empowering them to lead reform and performance improvement efforts more effectively.
He called for sustained efforts to enhance operational performance, make full use of available tools, and strengthen collaboration with public entities and holding companies.
The minister also called for a comprehensive review of safety protocols in all administrative and operational sites.
He stressed the importance of enforcing strict safety standards, particularly for contractors, to ensure all work is carried out under safe and compliant conditions.
