Egypt and Algeria signed a memorandum of understanding to establish a framework for cooperation in the purchase of Algerian crude oil for Egypt, aiming to enhance supply security and support Egypt’s role as a regional energy hub.
The agreement was signed during an official visit by Minister of Petroleum and Mineral Resources Karim Badawi to Algeria, in the presence of Algerian Minister of Energy and Mines Mohamed Arkab.
The MoU was signed between the Egyptian General Petroleum Corporation (EGPC) and Algeria’s state energy company Sonatrach, represented by EGPC CEO Saleh Abdel Karim and Sonatrach CEO Noureddine Daoudi, in the presence of Egypt’s Ambassador to Algeria Abdel Latif Al-Laiey and senior officials from both sides.
The agreement aims to establish an institutional framework for importing Algerian crude oil into Egypt, contributing to securing domestic market needs, enhancing the flexibility and sustainability of supply systems, and strengthening Egypt’s position as a regional petroleum trading hub.
Badawi said the agreement reflects the depth of historical relations between Egypt and Algeria, noting that bilateral cooperation is witnessing accelerated development across multiple fields, particularly energy.
He added that recent momentum in bilateral ties is driven by the strategic vision shared by President Abdel Fattah El-Sisi and Algerian President Abdelmadjid Tebboune, which has helped advance cooperation in the oil and gas sector toward broader strategic horizons.
The minister stressed that the growing political alignment between both countries is reinforcing energy cooperation and supporting deeper regional integration that serves the interests of both peoples.