Egypt eyes strategic partnership in Caspian hydrocarbon sector

Egypt has the potential to serve as a significant strategic partner for the Caspian region in developing hydrocarbon value chains, according to Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi.

Speaking at the 31st Baku Energy Forum, Badawi said his country can act as a key partner both for this region, the Caspian, and for Europe, Caliber.Az reports, citing local media.

“We are talking about creating routes for increasing value in the hydrocarbons ‘molecules' sector: this includes processing them at Egyptian refineries and then exporting higher-value products back to this market, as well as building storage facilities,” he noted.

In his view, such an approach will enable new commercially attractive projects in storage and value creation in the future.

“Accordingly, the potential for cooperation across the entire region is very large,” Badawi said.

He explained that Egypt could function as a bridge between the Caspian area and Europe by supporting the development of supply routes that enhance the value of hydrocarbons.

This would involve refining resources in Egypt, exporting higher-value outputs back to regional markets, and expanding storage infrastructure.

According to Badawi, such initiatives could unlock new commercially viable investment opportunities in storage and value-added production, while significantly expanding cooperation across the wider region.

By Bakhtiyar Abbasov