Egypt has revised its 2040 renewable energy target to 40%, reducing its previous goal of 58%.
The announcement was made by Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi on October 20, who emphasized that the country would focus on natural gas as a crucial part of the energy mix in the coming years.
“This is a message to all of us to work together to increase discoveries and attract more investments through the bis being offered for exploration, aiming to achieve new discoveries in the region, which holds more wealth, particularly natural gas,” Minister Badawi stated.
Since taking office in July, Minister Badawi stressed the importance of collaboration and diversification in the country’s energy sector, calling for increased exploration to tap into Egypt’s immense natural gas reserves. That month, Minister Badawi met with a delegation of officials from energy supermajor Eni, which plans to start drilling new wells in Egypt’s largest gas field – Zohr – in early 2025 to boost natural gas production.
Natural gas dominates Egypt’s current energy mix, currently supplying 51.7% of the country’s total energy supply. Oil accounts for roughly 41.1% while coal accounts for approximately 1.8%. The remainder of Egypt’s energy mix comprises hydro, wind, solar and biofuels and waste.
