Cairo and Algiers have taken a significant step towards strengthening their energy partnership following discussions between the Egyptian Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, and the Algerian Ambassador to Cairo, Mohamed Sofiane Brah.
The meeting focused on exploring avenues for enhanced cooperation in the gas, petroleum, and mineral resource sectors. This comes amidst a notable upswing in bilateral relations since the signing of a Memorandum of Understanding in October 2022.
Minister Badawi emphasized that the existing collaboration reflects a growing trajectory in the energy partnership between the two nations. He highlighted the ongoing involvement of Egyptian companies in major projects within Algeria.
He cited Petrojet’s participation in a substantial project valued at over $1 billion as a landmark achievement, demonstrating Algeria’s confidence in Egyptian expertise and the ability of these companies to deliver competitive engineering and technical solutions within the regional market.
The Minister affirmed that such projects serve as a catalyst for fostering mutual expertise and unlocking opportunities for increased investment in gas and petroleum. This, in turn, contributes to regional energy security and strengthens economic integration between the two countries. He believes the Egyptian-Algerian partnership in this sector has the potential to unlock even broader avenues for collaboration in the future.
Ambassador Brah underscored his country’s commitment to expanding cooperation with Egypt. He noted that the upcoming meetings of the Joint High Committee in Cairo will address crucial economic matters. Algeria aims 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, given the strong historical ties between the two nations.
