Cairo, Algeria – Egypt and Algeria are deepening their energy partnership following discussions between Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, and Algerian Ambassador to Cairo, Mohamed Soufiane Braah. The meeting focused on expanding cooperation in gas, oil, and mineral resources, building on the momentum generated since the signing of a Memorandum of Understanding in October 2022.
Minister Badawi emphasized the growing energy partnership, highlighting the active involvement of Egyptian companies in major projects within Algeria. He cited Petrojet’s participation in a project exceeding $1 billion as a testament to Algeria’s confidence in Egyptian expertise and their ability to provide competitive engineering solutions in the regional market.
“These projects are vital for fostering shared expertise and unlocking further investments in gas and oil,” Minister Badawi stated, “ultimately contributing to regional energy security and stronger economic integration between our nations.” He expressed optimism that the Egyptian-Algerian partnership in the energy sector could pave the way for broader collaboration in the future.
Ambassador Braah affirmed Algeria’s commitment to expanding cooperation with Egypt, noting that upcoming meetings of the Joint Higher Committee in Cairo would address crucial economic matters. He expressed Algeria’s ambition to increase trade volume to approximately $5 billion, up from the current $1 billion, emphasizing the pivotal role of the energy sector in this endeavor. The Ambassador underscored the strong historical ties between the two countries, providing a solid foundation for enhanced energy cooperation.
The strengthened partnership aims to bolster both economies and contribute to regional stability through enhanced energy security and economic integration. The focus remains on identifying and developing joint projects that leverage the strengths of both nations.
