Egypt outlines ambitious energy plans, multi-billion FDI, major gas discoveries
via Egypt Today6 min read
Egypt's Cabinet has outlined ambitious energy plans, including major gas discoveries, increased renewable energy targets, and significant anticipated investments. Prime Minister Mostafa Madbouly detailed these plans, highlighting the government's commitment to settling dues owed to foreign energy partners, reducing accumulated arrears from over $6.1 billion to $714 million, with full repayment expected by June 30. This move has incentivized international companies to intensify exploration and production activities. International companies have committed over $19 billion in petroleum sector investments over the next three years, including $8 billion from Eni, $5 billion from BP, $2 billion from Emirati ARCIUS, and $4 billion from Apache Corporation. Recent natural gas discoveries include a find in the Abu Madi area of Kafr El-Sheikh Governorate, expected to add 50 million cubic feet of gas production per day, and the Denise gas field, with estimated reserves exceeding 2 trillion cubic feet of natural gas and over 130 million barrels of condensates, projected to produce 500-600 million cubic feet of gas per day once operational in the second half of 2027. Egypt has also raised its renewable energy target to approximately 45% of the country’s energy mix by the end of 2028, up from a previous target of 42% by 2030. Additionally, the economy grew by 5% in the third quarter of the current fiscal year, surpassing earlier estimates. The government is also working to empower the priva
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The cultural and educational ties between Egypt and the United Arab Emirates have evolved into a significant strategic partnership, encompassing heritage preservation, arts, and education. This relationship, described by Emirati officials as a "pillar of Arab awareness," is strengthened by joint initiatives and substantial investments in cultural landmarks. Egypt has been a primary destination for Emirati students seeking higher education since the 1960s, a tradition dating back to 1927. The late Sheikh Zayed bin Sultan Al Nahyan established the Institute for Teaching Arabic to Non-Native Speakers in Egypt in 1992, solidifying Cairo's role as a regional learning hub. The UAE has supported Egyptian cultural infrastructure, including a $50 million grant for the restoration of the Museum of Islamic Art and a $21 million grant for the Library of Alexandria. Cooperation also extends to experimental theater, with Dubai and Sharjah frequently hosting Egyptian artists. Egypt has been a "Guest of Honor" at the Abu Dhabi International Book Fair and actively participates in the "Reading Challenge" initiative. Recent high-level meetings between the Egyptian Ministry of Culture and Dubai Culture & Arts Authority focused on expanding cooperation in museum management, intangible heritage, and digital arts. Former UAE Minister of Culture, Noura Al Kaabi, emphasized that this partnership reflects a shared vision of brotherhood rooted in Sheikh Zayed's legacy. Additionally, President Abdel Fat
Egyptian Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty received a phone call from Italian Deputy Prime Minister and Foreign Minister Antonio Tajani to discuss strengthening bilateral relations and regional developments. Abdelatty praised the relations between Egypt and Italy, expressing Egypt’s desire to enhance all aspects of bilateral ties, including economic and investment relations and trade exchange. The ministers exchanged views on regional developments, with Abdelatty briefing Tajani on Egypt’s efforts to de-escalate tensions in coordination with regional and international partners. He emphasized the importance of supporting US-Iran negotiations and efforts for a political settlement, and adhering to the negotiation track to consolidate a ceasefire and end the war. Discussions also covered developments in the Gaza Strip, with Abdelatty stressing the need to complete the second phase of the US plan, including deploying an international stabilization force, ensuring humanitarian aid delivery, and launching recovery and reconstruction programs. Regarding Lebanon, Abdelatty reiterated Egypt’s support for Lebanese sovereignty and territorial integrity, calling for a full Israeli withdrawal and implementation of UN Security Council Resolution 1701. The Italian foreign minister praised Egypt's constructive role in de-escalating regional tensions. Both ministers agreed to continue coordination and consultations to reduce escalat
Egyptian Foreign Minister Badr Abdelatty and German National Security Adviser Gunter Sautter held a phone call on May 6, 2026, to discuss strengthening bilateral ties and addressing regional developments. Abdelatty praised the strong relations between Egypt and Germany, emphasizing their shared commitment to advancing cooperation, especially in the economic and trade sectors. The discussion also covered escalating regional tensions, with Abdelatty briefing Sautter on Egypt’s de-escalation efforts and stressing the importance of continued negotiations between the United States and Iran as the only viable path for diplomatic solutions. Sautter commended Egypt’s role in supporting regional security and stability and expressed Germany's interest in further strengthening relations with Cairo and continuing coordination.
Al-Arish Airport has received an aid shipment from the United Arab Emirates destined for Gaza. This event occurred on Thursday, May 7, 2026.