Egypt monitors regional unrest impact in Crisis Committee meeting

Prime Minister Mostafa Madbouly confirmed that all relevant Egyptian authorities are closely monitoring the Iranian-Israeli conflict and its potential impact on global energy prices and strategic commodities.

His statement came during a Crisis Committee meeting to assess the repercussions of the ongoing escalation.

Gas regasification infrastructure

The committee reviewed Egypt’s gas regasification infrastructure, announcing that the second FSRU, Energos Eskimo, has arrived at Ain Sokhna and will move to the SUMED port by end of June, with a capacity of 750 million cubic feet per day. It will join the Hoegh Galleon, already stationed at SUMED. A third unit, currently at Dekheila Port, is scheduled to begin operations at Damietta in early July, significantly boosting domestic gas supply.

Public transport

Deputy Prime Minister Kamel El-Wazir outlined continued investment in public transport, including the Bus Rapid Transit (BRT) system, urging citizens to adopt it as a daily option. He also reviewed efforts to localise production of modern transport vehicles.

Wider use of solar power to reduce consumption

Electricity Minister Mahmoud Esmat presented updates on conservation measures and renewable energy integration. The Prime Minister called for household incentives and wider use of solar power to reduce consumption.

Strategic reserves of key goods sufficient for over six months

The committee confirmed that Egypt’s strategic reserves of key goods remain sufficient for over six months. Supply Minister Sherif Farouk noted ongoing efforts to build stockpiles, encourage rational consumption, and strengthen market oversight.

Global oil price outlook

Petroleum Minister Karim Badawi outlined global oil price scenarios based on the conflict, warning of possible increases due to expected escalation. The committee pledged to continue tracking developments and adjusting national strategies to ensure economic and energy stability.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama