Egypt and TotalEnergies Explore Enhanced Cooperation in Mediterranean Gas Development
Egypt and French energy giant TotalEnergies have engaged in high-level discussions to strengthen their partnership, with new investment opportunities emerging through the Egypt Upstream Gateway for both offshore and onshore oil and gas exploration. The meeting between Petroleum Minister Karim Badawi and Pascal Breant, Managing Director of TotalEnergies Exploration and Production in Egypt, focused on expanding regional cooperation and maximizing infrastructure utilization.
Minister Badawi emphasized Egypt’s commitment to supporting TotalEnergies’ expansion in the Eastern Mediterranean while accelerating joint regional cooperation projects in the gas sector. The discussions centered on leveraging Egypt’s strategic position as a regional energy hub and its existing infrastructure capabilities.
Breant expressed strong interest in expanding cooperation, citing Egypt’s attractive investment environment in the oil and gas sector. The company shows particular interest in untapped discoveries and conducting studies for opportunities in open exploration areas.
TotalEnergies maintains significant operations in Egypt, including shareholding in the Idku liquefied natural gas plant and interests in two offshore Mediterranean exploration blocks, including the operated Block 3. Earlier this year, Eni and TotalEnergies were reported as targeting a final investment decision for the Cronos gas discovery offshore Cyprus by 2026, with planned volume deliveries to Egypt by 2029.
Source: egyptoil-gas.com
