St. petersburg: Minister of Petroleum and Mineral Resources Karim Badawi participated on Sunday, June 7, 2026, in a high-level panel on the future of energy during the St. Petersburg International Economic Forum (SPIEF), alongside a number of ministers and senior officials.

According to State Information Service Egypt, the SPIEF is an annual global business and economic event held in Russia, which gathers world leaders, government officials, and executives to discuss investment opportunities, economic trends, and international cooperation. It is often described as Russia's leading platform for economic dialogue and deal-making.

During his speech, the Minister emphasized that Egypt's integrated vision for the energy sector focuses on securing the local market's energy needs, in parallel with reinforcing its role as a regional energy hub. He cited Egypt's distinct geographical location and advanced infrastructure in natural gas, petroleum refining, storage, and transportation as key assets.

He highlighted that Egypt continues its efforts to increase oil and gas production by intensifying exploration activities, accelerating the development of discoveries, and providing an attractive investment climate. These efforts aim to support economic growth and meet the growing domestic demand for energy.

Badawi added that Egypt is working to maximize the value of its natural resources through expanding refining and petrochemicals, while advancing a diversified energy strategy that includes renewables, energy efficiency, green hydrogen, and mining. He noted that balancing domestic demand and exports relies on increasing production, upgrading infrastructure, and boosting value-added industries.