Egypt and Cyprus sign an agreement to encourage investments in the energy sector on the sidelines of “EGYPS 2026”

Countries are actively seeking to secure their needs for energy sources, especially in light of the rapid changes that the energy sector is witnessing due to the surrounding geopolitical changes and market fluctuations. The countries’ policy revolves around increasing production and managing resources efficiently, and building partnerships capable of ensuring stability and continuity of flows, in a way that supports the encouragement of investments in the energy sector, which intersects with the seventh goal ofSustainable Development Goals (SDGs) concerned with ensuring everyone’s access to clean energy at affordable prices. Reasonable.

Egypt, like other countries, is also moving to strengthen its position in the energy market by expanding local production, in addition to supporting regional cooperation with its international partners, in a way that reflects a more comprehensive vision for managing the energy sector, which includes meeting internal needs and strengthening the regional role so that Egypt becomes a pivotal center for energy trading and export, in clear connection with the eighth goal related to economic growth and decent work, and the ninth goal related to developing industry and infrastructure.

Ministerial discussion session at “EGYPS 2026”

Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, participated in the first ministerial discussion session within the activities of the Egypt International Energy Conference and Exhibition EGYPS 2026, with the participation of the Cypriot Minister of Energy, Mr. Michael Damianos, and Mr. Dete Jul Jorgensen, Director General of Energy at the European Commission, within a framework that reflects the importance of international partnerships in encouraging investments and thus achieving sustainable economic development.

The Minister stressed that securing the supply of petroleum products and natural gas to millions of Egyptians is a top priority, indicating continued work with partners to accelerate local exploration and production work, advance plans to increase production, and quickly place new discoveries on the production map.

He explained that the ministry is also working to evaluate the feasibility of new reservoirs and opportunities and their exploitability, in addition to focusing on value-added industries, such as refining and petrochemicals, adding that bringing in gasification ships contributed to confronting supply challenges during the recent crisis.

Strengthening regional partnerships in the field of gas

The minister also indicated that Egypt is working to strengthen regional partnerships in the field of gas with Cyprus, to receive Cypriot gas, connect it to the Egyptian infrastructure and export it via Egypt, explaining that the framework agreement that was signed is the culmination of extended efforts between them, and confirms that Cyprus is a reliable partner for Egypt.

He added that the new agreement aims to encourage investments and expansion in regional gas projects in cooperation with partners who have joint investments in both Egypt and Cyprus, through an appropriate commercial model.

Reassuring messages about energy security

For his part, the Cypriot Minister of Energy, Mr. Michael Damianos, stated that the framework agreement that was signed today in the presence of the leadership of the two countries confirms the strength of relations between Egypt and Cyprus, and sends messages of reassurance regarding energy security. He added that part of the Cypriot gas production will be exported to European markets, expecting the first shipments of Cypriot gas to be exported to Egypt from the Kronos field in 2028.

He explained that Cyprus has several gas discoveries with reserves estimated at about 20 trillion cubic feet, and it seeks to benefit from them, stressing that strengthening the partnership with Egypt in the field of energy represents great importance for Cyprus.

Dette Jul Jørgensen, Director-General of Energy at the European Commission, said: The priority is to provide energy to the European people at an appropriate cost, and that Europe is focusing on diversifying sources of supply, noting that Egypt is one of the important partners in achieving this goal.

She added that Europe is one of the largest importers of gas in the world, and that after the challenges of 2022, the capabilities of the infrastructure to import gas have been increased, stressing that rationalizing consumption and raising the efficiency of energy use are an essential element for reducing the demand for gas, stressing the interest in achieving a balance between supply and demand.

In conclusion, these moves reveal a clear strategic direction towards reformulating the energy map in the region, by securing supplies, building an integrated system based on regional partnerships and maximizing the use of infrastructure in encouraging and attracting investments, thus enhancing the ability of countries to confront global challenges. In this context, cooperation agreements emerge as an effective tool for achieving integration, especially when linked to a vision targeting sustainability and efficient resource management.

In turn,The Earth Guards Foundation appreciates the framework agreement between Egypt and Cyprus on the sidelines of the activities of the Egypt International Energy Conference “EGYPS 2026” as it reflects a practical model of how the energy sector can be used to encourage investments and open new horizons for joint projects, in a way that supports economic growth and enhances regional status. For both parties.