Prime Minister Mostafa Madbouly emphasized the importance of accelerating the integration of new gas discoveries into production in order to maximize the use of available natural gas capacity, increase domestic output and secure supplies for the local market and electricity generation.
This came during Madbouly’s meeting on Monday, May 4, 2026, at the government headquarters in the New Capital with Minister of Petroleum and Mineral Resources Karim Badawi, where they reviewed several key files, including ongoing efforts to meet domestic demand for natural gas and petroleum products.
The meeting covered measures taken by the petroleum ministry to secure fuel supplies for the electricity sector during the summer months, Cabinet Spokesperson Mohamed al-Homosany said.
These include increasing the quantities of natural gas and fuel oil delivered to power plants, alongside the start of receiving contracted liquefied natural gas shipments through a regasification vessel, ensuring stable electricity supply.
The minister reviewed progress in reducing outstanding dues to foreign partners in oil and gas production, which fell significantly from $6.1 billion in June 2024 to about $714 million by the end of April 2026.
Work is ongoing to fully settle these dues by the end of June, which is expected to strengthen investor confidence and encourage new investments, he added.
The meeting further addressed the implementation of recent amendments to the executive regulations of the Mineral Resources Law. These changes aim to transform the Egyptian Mineral Resources Authority into an independent economic entity, enhancing added value from natural resources and increasing the mining sector’s contribution to gross domestic product (GDP) to a targeted 5-6 percent.
Madbouly also reviewed the outcomes of a roundtable titled “Future Energy Leaders from Youth”, which focuses on empowering young talent and supporting innovative ideas in the oil and gas sector, as part of broader efforts to invest in human capital.
Additionally, the prime minister was briefed on a new natural gas discovery in the Nile Delta region, with estimated production of around 50 million cubic feet per day, as well as ongoing efforts to stimulate investment in the mining sector and make better use of natural resources.
