$4.5 Billion Refinery Investment Signals New Momentum for Egypt’s Energy Sector
Egypt is accelerating its energy transformation...
Monday, 10 August 2026
The two countries will strengthen cooperation in the fields of electricity, renewable energy, energy efficiency, hydrogen and nuclear energy, officials said, following a meeting between President Recep Tayyip Erdoğan of Turkey and President Abdel Fattah el-Sisi of Egypt.
Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar and Egyptian Foreign Minister Bedr Abdulati signed a ‘Memorandum of Understanding in the Field of Energy’ that pledges to strengthen energy cooperation between the two countries as well as develop joint projects.
Electricity infrastructure and trade, renewable energy, energy efficiency, hydrogen and nuclear energy are all outlined as areas of focus in the agreement.
“With this agreement, we will strengthen the energy cooperation between the two countries and develop joint projects,” said Minister Bayraktar. “I hope the agreement will be beneficial for both countries.”
Last month, hydrocarbon exploration and production company Energean agreed to the sale of its portfolio in Egypt, Italy and Croatia.
In February, Bulgaria and Egypt agreed to cooperate on future supplies of natural gas from Egypt to southeast Europe, in particular from Egyptian liquefied natural gas (LNG) export terminals.
