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Egypt plans to add approximately 2,500 megawatts of renewable energy capacity to the national electricity grid before next summer, according to a presidency statement issued following a high-level meeting chaired by President Abdel Fattah El-Sisi.

The meeting was attended by Prime Minister Mustafa MadboulI, Minister of Electricity Mahmoud Esmat, and Minister of Petroleum and Mineral Resources Karim Badawi. Discussions focused on recent developments in the energy sector and measures to ensure a stable and reliable electricity supply.

Presidential spokesperson Mohammad El-Shennawi said the talks reviewed plans to secure adequate fuel supplies for power generation and maintain uninterrupted electricity production through enhanced coordination among relevant state entities.

Participants also examined preparations to secure natural gas supplies for power plants amid ongoing regional tensions and their economic repercussions, particularly the impact on global energy prices.

President El-Sisi underscored the need to maintain sufficient strategic reserves of petroleum products to safeguard fuel supplies for electricity generation and vital productive sectors, describing energy security as a cornerstone of national security.

The meeting further addressed domestic production levels of natural gas, crude oil and condensates, as well as outstanding payments owed to foreign energy companies and government efforts to settle them. Exploration activities and investment opportunities in the oil and gas sector were also reviewed.

Badawi said Egypt is moving ahead with plans to modernize and upgrade existing oil refineries to increase output, enhance value added, and reduce fuel import costs.

He also outlined preparations for Egypt to host the Egypt Energy Show (EGYPS 2026) in Cairo from 30 March to 1 April.

In addition, the meeting discussed a recently signed memorandum of understanding between Egypt and Libya to expand cooperation in oil, natural gas and mining, covering exploration, refinery upgrades, energy transportation and petrochemical development.

President El-Sisi directed the government to accelerate the settlement of dues owed to foreign partners, intensify efforts to attract investment in the energy sector, and continue developing infrastructure to receive liquefied natural gas (LNG) imports, including the deployment of regasification vessels, alongside measures to boost domestic production.

Source: Daily News Egypt