Cypriot Energy Minister George Papanastasiou said Egypt's energy infrastructure helps Cyprus make the most of its gas reserves.
Speaking at Egypt’s international Energy Show (EGYPES 2025), Papanastasiou stressed that a successful energy transition should focus on energy security, affordable resources, and supporting technologies.
He also emphasized the importance of working with Egypt, given its competitive advantages in the sector.
Egypt and Cyprus signed two agreements on Monday, on the sidelines of EGYPES 2025, to begin developing Cyprus’ natural gas discoveries using Egypt’s infrastructure.
The agreements are part of Egypt’s Petroleum Ministry strategy to transform the country into a regional hub for natural gas trade, by receiving gas from Eastern Mediterranean discoveries, directing it to the local market, and re-exporting it to Europe.
Egyptian Petroleum Minister Karim Badawi emphasized Egypt’s role as a regional energy hub, thanks to its strong infrastructure in the petroleum and gas sectors.
He said the main goal of regional energy cooperation is to help countries make the most of their resources and infrastructure, with close partnerships between Egypt, Cyprus, and Europe for mutual benefit.
Egypt’s strategy focuses on using its location and advanced infrastructure to boost its role in renewable and green energy, as well as petrochemicals, Badawi explained.
He also highlighted plans to diversify energy sources, increase renewable energy, and explore green hydrogen, while responsibly producing oil and gas with minimal carbon emissions.
Greek Energy Minister Theodore Skylakakis discussed Greece's efforts to secure energy and develop electricity infrastructure, turning the country from an importer into an exporter of electricity for the first time.
Badawi signed a memorandum of understanding (MoU) with Skilakakis on cooperation in carbon capture, storage, and utilization with the aim to reduce carbon emissions from the energy sector and support low-carbon economy.
The MoU, inked on the sidelines of EGYPES 2025, seeks to facilitate knowledge exchange between Egypt and Greece on the application of carbon capture and storage (CCS) technologies that capture the greenhouse gas carbon dioxide and store it safely underground, so that it does not contribute to climate change.
The scope of cooperation includes developing proposals for a regulatory framework for carbon capture, storage, and utilization activities, in accordance with environmental standards and regulations.
