Algeria is reinforcing its energy partnerships with Egypt and Qatar, focusing on exploration, investment, and regional collaboration.
Earlier in December, the energy ministers of the three nations convened during the Organization of Arab Petroleum Exporting Countries (OAPEC) meeting in Kuwait, where they discussed strategies to expand their cooperative efforts in the energy sector.
Qatar emphasized its commitment to enhancing ties with Egypt, particularly in exploration and production activities. The discussions highlighted projects in the Red Sea and the Mediterranean, with Qatar expressing interest in developing the Western Mediterranean’s untapped energy potential. Qatar Energy reaffirmed its dedication to Egypt’s energy sector, citing ongoing partnerships with international firms and optimistic expectations for new exploration ventures.
Egypt is actively seeking foreign investment to advance its energy sector, particularly in oil and gas exploration. Minister of Petroleum and Mineral Resources Karim Badawi underscored the importance of these partnerships in achieving Egypt’s goals of increased production and resource development. Collaborative opportunities with Qatar and Algeria are integral to this strategy.
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Algeria’s Energy and Mines Minister, Mohamed Arkab, also engaged in bilateral discussions with his Egyptian counterpart, focusing on renewable energy, knowledge exchange, and capacity building. The two nations are building on a 2022 Memorandum of Understanding, which fosters cooperation in gas, oil, and mining.
Arkab lauded the successful partnership between companies like Algeria’s Sonatrach and Egypt’s Petrojet. He highlighted opportunities for Egyptian firms to invest in Algeria, particularly under the country’s new hydrocarbons law, which offers attractive incentives for exploration, refining, and hydrogen production.
The alliance between Algeria, Egypt, and Qatar marks a significant step in shaping the region’s energy future. By leveraging their collective expertise and resources, the three nations aim to drive sustainable growth and bolster regional energy security.
