Egypt, World Bank strengthen cooperation on methane reduction, energy transition

Egypt’s Petroleum Minister Karim Badawy met Tuesday with Zubin Bamji, manager for the World Bank’s Global Flaring and Methane Reduction (GFMR) Partnership, on the sidelines of Gastech 2025 to advance joint initiatives on emissions reduction and energy transition.

Badawy reaffirmed Egypt’s appreciation for the World Bank as a strategic partner in supporting the development and modernisation of the country’s petroleum and gas sector. He said oil and gas will remain a key part of the global energy mix for decades, complementing renewable sources, while emphasising that emissions reduction is central to the ministry’s strategy.

Highlighting methane reduction as a key decarbonisation priority, Badawy recalled Egypt’s accession to the Global Methane Pledge (GMP) in June 2022 and welcomed the World Bank’s support for efforts to end routine gas flaring by 2030, including funding studies on carbon capture and storage hubs.

The two sides reviewed ongoing collaboration under four priority GFMR projects, covering vapour recovery units for oil storage tanks, flare gas recovery, flare measurement programmes, and leak detection and repair (LDAR) systems. They also discussed securing grants to finance methane reduction initiatives and support Egypt’s sustainable energy transition.

In a separate meeting, Badawy met Maurizio Coratella, chief operating officer of McDermott International Ltd, to explore cooperation in energy development, including accelerating exploration, production, and development projects to meet domestic energy needs.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser